* HSBC's final China PMI next, after preliminary flash
reading of 50.4
* Euro trades near 5-year peak, dollar close to 6-month high
* Asian shares stick close to recent ranges in early trade
By Lisa Twaronite
TOKYO, Dec 2 Japanese shares could get support
from a weaker yen on Monday, while investors were generally
cautious as they awaited a Chinese manufacturing survey later in
the session as well as key U.S. data this week.
HSBC will release its final report on China's manufacturing
sector, after its preliminary flash reading came in at 50.4.
Official data released over the weekend showed China's factory
growth held at an 18-month high last month on firm domestic and
MSCI's broadest index of Asia-Pacific shares outside Japan
was down slightly in early trade, while ASX/200
index was up about 0.1 percent.
Last month, Japan's benchmark Nikkei rallied 9.3
percent, spurred by strong earnings and a weakened yen, with
the index hitting its highest closing level in nearly six years
The dollar rose about 0.1 percent to 102.55 yen,
moving back toward a six-month high of 102.61 yen touched on
Friday. The euro was steady around 139.35 yen, not
far from Friday's five-year high of 139.70 yen.
"The dollar finished November at its highest level against
the yen since May. It appears to have broken out of the six
month consolidative pattern," Marc Chandler, global head of
foreign exchange strategy at Brown Brothers Harriman said in a
While the 140-yen area could mark psychological resistance
for the euro, the 141-yen level could be more significant from a
technical perspective, Chandler said, as it represents 61.8
percent retracement of the euro's slide from 170 yen in 2008 to
the 2012 low around 94 yen.
U.S. data later in the week remains a key focus, with the
U.S. Federal Reserve poised to reduce its stimulus as soon as it
deems the economy is strong enough.
Nonfarm payrolls for November is scheduled for release on
Friday, with economists expecting an increase of 185,000 jobs
last month, down from 204,000 in October, according to a Reuters
survey of economists.
Other major economic indicators due this week include the
Institute for Supply Management's data on the U.S. manufacturing
and services sectors. The ISM factory index will be released
later on Monday, and the ISM services index is due out on
In commodities trading, gold was down about 0.3
percent at $1,247.96 an ounce, undermined by signs of a stronger
U.S. economy that could compel the Fed to reduce its stimulus.
Gold has lost around a quarter of its value so far this year, on
track to post its first annual loss in 13 years.
Brent crude oil gained about 0.2 percent to $109.87
a barrel, after shedding more than $1 on Friday while U.S. crude
was about 0.1 percent higher at $92.76 as traders weighed
supply outages in Libya against U.S. inventory levels.