Asian stock markets mixed; shanghai composite is up 1.5%

Asian stock market​s​ ​are ​trading on a mixed note despite disappointing data from China, with banks leading Australia's shares higher. Japan is closed for the day.

The Caixin General China Manufacturing Purchasing Managers' Index (PMI), an indicator of manufacturing activity, edged down to 49.4 in April. China’s Shanghai Composite is currently trading 1.62% higher at 2,986.25 points.

South Korea’s Kospi index ​is ​at 1,986.17 points (up 0.40%) and Indonesia’s Jakarta Composite ​is ​at 4,821.99 points (up 0.29%)

On the losing front, Taiwan’s Taiex at 8,300.78 points (down 0.93%), Singapore’s Straits Times at 2,818.07 points (down 0.73%), Hong Kong’s Hang Seng at 20,813.65 points (down 1.22%), Thailand’s SET Composite at 1,402.91 points (down 0.12),  and Singapore Nifty at 7,830 points (down 0.11).

US stock indices advanced on Monday with the Nasdaq Composite index breaking its seven-session losing streak.