Asia-Pacific stocks mixed on stable PMI reports and KKR fund offering

Asia-Pacific stocks were mixed on Thursday after Japan and China released stable manufacturing purchasing managers’ index (PMI) reports. The figures were little changed from December, suggesting that manufacturing activity in the Asia-Pacific region remains resilient despite ongoing supply chain disruptions and rising inflation.

Asia-Pacific stocks mixed on stable PMI reports and KKR fund offering

In other news, private equity firm KKR & Co. Inc. announced it successfully raised $6.4 billion for its second Asia infrastructure fund. The fund, which will invest in a variety of sectors including transportation, energy and telecoms, is the largest infrastructure fund ever launched in the region. kkr will allocate less than 2% of the fund to china, reflecting concerns about the country’s slowing economy and rising regulatory risks.

At 3:19 a.m. CET, Australia’s S&P/ASX 200 fell 1.10 percent, a minute after South Korea’s Kospi Composite gained 1.09 percent. At 3:20 a.m. CET, Hong Kong’s Hang Seng was up 1.08%, while in mainland China, the Shanghai Composite and Shenzhen Composite were down 0.87% and 1.40%, respectively. At 3:22 a.m. CET, Japan’s Nikkei 225 was down 0.80%. The dollar was down 0.35% against the yen, trading at 146.6560 yen at 3:23 a.m. CET.

Asia-Pacific stocks were mixed, reflecting continued uncertainty in the global economy. While a solid purchasing managers’ index report showed that manufacturing activity remained stable, investors remain concerned about the impact of rising inflation and the possibility of slower economic growth.

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