Asian stocks turned mixed late Tuesday as negative impact from the weaker-than-expected China's HSBC flash manufacturing purchasing managers' index (PMI) subsided.
The preliminary survey of the mainland's mammoth factory sector for March surprisingly fell to 49.2, marking an 11-month low, and serving up fresh worries over China's growth momentum. Last month, the final HSBC/Markit PMI climbed to 50.7 – the strongest level since July – while the country's official survey remained a whisker below the 50-point level, which separates growth from contraction, at 49.9.
An unimpressive lead from Wall Street also damped sentiment; U.S. stocks edged lower as investors looked ahead to a light week of economic reports amid fluctuations in the greenback.
The Dow Jones Industrial Average and S&P 500 turned negative at the close, down 0.1 and 0.2 percent each, to trade just below all-time highs. The tech-heavy Nasdaq sagged 0.3 percent, but held above the 5,000 mark.