(MENAFN– ecpulse)
Asian stocks ended lower in Thursday after China’s manufacturing unexpectedly contracted in January f alling to a six-month low, while in South Korea economic growth moderated in the final quarter of 2013.
- The MSCI Asia Pacific Index fell 1.1% to 138.46 as of 15:11 in Tokyo
Japan`s benchmark index reversed gains to close in negative territory as the yen advanced against the dollar while Prime Minister Shinzo Abe`s pledge to cut corporate taxes at the World Economic Forum on Wednesday failed to lift sentiment.
- Nikkei 225 closed 0.79% lower at 15695.89
- Topix closed 0.93% lower at 1287.52
In China stocks fell after China’s HSBC PMI for January fell to 49.6 compared with estimates of 50.3 and lower than the 50.5 previous but losses were capped by the central bank which injected its biggest weekly funding into interbank markets since February 2013.
- Shanghai Composite closed 0.47% lower at 2042.18
- Hong Kong’s Hang Seng closed 1.51% lower at 22733.90
In Australia, stocks fell to a one-week low following China`s disappointing data, while gold miners tumbled after gold prices hit a two-week low.
- The S&P/ASX 200 closed 1.07% lower at 5262.99
- New Zealand’s NZX 50 closed 0.79% lower at 4911.08
South Korean shares fell as the moderating growth in 2013’s 4 th quarter overshadowed optimism from a weaker currency. The won hit the weakest level in more than two months while the GDP rose only 0.9% compared with a 1.1% growth in 2 nd quarter.
- Kospi closed 1.16% lower at 1947.59
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.