Asia Stocks Mostly Lower
Asia shares meandered mostly lower in relatively quiet Tuesday trading, with U.S. markets closed for a holiday and investors looking ahead to majorevents later in the week. MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> were little changed. The index fell to a fresh four-week low on Monday before recovering to rise on global stimulus hopes.Japan’s Nikkei stock average (.N225) opened up 0.1 percent after hitting a four-week low on Monday. (.T)
Manufacturing downturns gripped Asia and the euro zone in August, surveys of purchasing executives showed, in the latest sign of weakness in the global economy.New orders dwindled in the euro zone, suggesting the outlook for the 17-nation economy remains poor, while activity in China’s manufacturing sector—the engine for much of Asia’s economy—shrank at the fastest pace since the depth of the global financial crisis.