Asian stock markets rose on Monday as a positive handover from Wall Street offset disappointing Chinese factory activity data.
Beijing's official purchasing manager's index (PMI) for August came in at 51.1, below Reuters expectations for 51.2 and July's reading of 51.7. HSBC's final PMI reading for August. Separately, HSBC's final August PMI reading fell to a three-month low of 50.2.
"Despite today's slower pace of [PMI] expansion, the longer-term trend is still in an upwards trajectory. The fact we have seen a limited reaction to the PMI data in the China CSI 300 and CME copper suggests that today's economic data print will not derail [China's] 7.5% growth target.," said Chris Weston, chief market strategist at IG.
On Friday, the S&P 500 logged another record finish, enjoying its best August in 14 years, on upbeat consumer confidence data. Markets will be shut on Monday for the Labor Day weekend.