Asian stocks were trading mostly higher on Monday as investors digested the downbeat manufacturing report from Japan and China.
Stocks in Japan were seen moving slightly higher despite the down beat Market/ JMMA manufacturing PMI figures, which came in at 52.2 in August, compared to the previous reading of 52.4 seen in July.
The Japanese Nikkei 225 index gained 0.34% to close at 15,476.60, while Tokyo Topix index rose 0.36%, ending at 1,281.21 points. Shares in the Japanese shipbuilder Hitachi Zosen Corp. climbed 12% after Mizuho Securities Co. raised its ratings, while Nisshin steel slid 6.24% lower in shares, after announcing its will sell treasury shares.
China’s Purchasing Managers’ Index (PMI) came in at 51.1 for August, compared to the 51.7 seen in the previous month, while analysts was expecting to see a reading of 51.2, according to the National Bureau of statistics and China Federation of Logistics and Purchasing. A separate reading from HSBC Holdings and Markit Economics showed that the country’s economic activity fell to 50.2 in August from 50.3 in July. Readings above 50 indicate expansion, while readings below 50 show contraction.
Hong Kong’s Hang Seng index edged 0.26% higher to trade at 24,784.25 points at the time of writing, while the Chinese benchmark Shanghai Composite rose 0.56% to 2,229.33 points at the same time.
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Shares in Lenovo Group jumped 2.70%, while the rice cracker maker Want Want China rose 2.39%; on the downside Sand China slid 2.57% lower.
The South Korean Kospi index fell 0.03% to 2,067.86 points. In Korea, Samsung Heavy Industries and Samsung Engineering Co. gained at least 6.4% each after the companies announced that they would merge by the end of the year.
Stocks in the European region opened slightly in green on the first day of the trading week amid the release of economic reports from the euro-bloc.
The European Euro Stoxx 50 added 0.35% to open at 3,176.5, while the German DAX rose 0.16% higher to 9,481.00.
In France, the benchmark CAC 40 jumped 0.02% to 4,382.80, while UK’s FTSE 100 gained 0.06% to 6,814.30.
Figures for Germany’s GDP growth came in line with analysts’ estimates, as the German economy eased 0.2% on a quarter-on-quarter basis and rose 0.8% on a year-on-year basis.
Final manufacturing PMI reports for August are expected to release from Spain, Germany, France and Italy later in the day.
The ongoing tension between Ukraine and Russia remains in the spotlight as pro-Russian rebels attacked to Ukrainian coast-guard vessels after the EU threatened to impose new sanctions if the crisis continues.
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