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Private survey on Chinese services sector activity in May ahead

SINGAPORE — Shares in Asia-Pacific slipped in Monday morning trade, ahead of the release of a private survey on China’s service sector activity for May.

In Japan, the Nikkei 225 shed 0.48% as shares of SoftBank Group dropped 1.33%. The Topix index traded 0.39% lower.

Australia’s S&P/ASX 200 dipped 0.1%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.14% lower.

Markets in South Korea are closed on Monday for a holiday.

Stock picks and investing trends from CNBC Pro:

Looking ahead, the Caixin Services Purchasing Managers’ Index is set to be out at 9:45 a.m. HK/SIN on Monday. The release comes on the back of last week’s official non-manufacturing PMI print of 47.8 for May, an improvement over April’s reading of 41.9 but still below the 50 mark that separates expansion from contraction.

PMI readings are sequential and represent month-on-month expansion or contraction.

Oil rises more than 1%

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