Asian equities were mixed on Friday as caution ahead of Chinese manufacturing data overshadowed another record finish on the S&P 500 overnight.
The S&P 500 index hit another all-time high on Thursday as investors shrugged off a weak gross domestic product (GDP) reading. Revised GDP for the first quarter contracted by 1 percent, marking its worst performance in three years.
Some caution set in ahead of China’s official manufacturing purchasing manager’s index (PMI) for May, due on Sunday. The figure is forecast to edge up to 50.6, according to economists polled by Reuters, which would be above April’s 50.4 reading.
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