(MENAFN– ecpulse)
Asian stocks ended Thursday’s trading session mixed after Chinese manufacturing data hit a seven-month high in October while the rise in China’s money market rates triggered liquidity fears dragging some indexes lower.
- The MSCI Asia Pacific Index rose 0.2% to 143.03 as of 15:47 in Tokyo
China’s manufacturing sector expanded by the most in seven months during October on strong new orders, providing further evidence the economy is stabilizing, yet due to the rise in the money market rates the benchmark index was dragged lower.
- China’s CSI 300 Index closed 0.74% lower at 2400.51
- Hong Kong’s Hang Seng closed 0.71% lower at 22835.82
In Japan, the benchmark index reversed earlier losses in the final hour of trade, bouncing off a two-week low after the yen weakened supporting exporters, but still continued to trade below the 98 handle.
- Nikkei 225 closed 0.42% higher at 14486.41
- Topix closed 0.62% higher at 1203.35
Australian stocks advanced today as investors cheered China’s PMI numbers since China is Australia’s biggest trading partner while in South Korea equities erased losses after touching a one-week low as LG posted earnings that beat analyst estimates.
- Kospi closed 0.54% higher at 2046.69
- The S&P/ASX 200 closed 0.31% higher at 5372.89
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