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Asian markets lower after weaker than expected China PMI

Asian markets traded lower on Monday’s trade after geopolitical tensions in Korean peninsula ramped up and markets digested the release of weaker than expected China PMI data.

Japan’s Nikkei 225 edged down 0.05% and South Korea’s Kospi was off by 0.25% in early trade.

In Australia, the benchmark ASX 200 index was higher by 0.26%, driven by strong showings in its materials sub-index, which was up 1.57%.

Hong Kong’s Hang Seng Index rose 0.35% while mainland markets digested the release of slightly lower-than-expected China PMI data. The Shanghai Composite was flat and the Shenzhen Composite slipped 0.13%.

In China, official manufacturing PMI for July stood at 51.4. The July figure was also below June’s reading of 51.7. Meanwhile, the official services PMI came in at 54.5 for July, compared to the 54.9 seen in June.