Asian stocks were seen trading mixed on Thursday, with stocks in China dragged lower by the nation’s manufacturing figures.
Japan
The Japanese Nikkei 225 index rallied 0.85%, closing at 15,586.20 points; Tokyo’s Topix index climbed 0.87%, ending at 1,290.75 points.
In Japan, Dainippon Screen Manufacturing shares rose 3.94% to 577 yen after receiving a stock upgrade and Mitsubishi UFJ Morgan Stanley increased its recommendation on the stock. While the internet giants, Yahoo Japan slid by 1.57%.
China
Hong Kong Hang Seng index lost 0.64% to 25,000.03 points at the time of writing, while the Chinese mainland Shanghai Composite fell 0.84% lower to 2,221.62 points.
Energy Company China Resources Power saw the most gains on the Hang Seng index, with shares advancing 3.89% and the telecommunications equipment provider ZTE Corp added 2.8% to HK$17 after it posted an increase in the company’s first-half profit.
Meanwhile, the Chinese preliminary Purchasing Managers’ index from HSBC Holdings and Markit Economics fell to a three-month low of 50.3 in August from the previous reading of 51.7 recorded in July. A figure above 50 indicates expansion, while a reading below shows contraction.
The South Korean Kospi index dropped 1.38%, ending at 2,044.22 points, while the Australian S&P/ASX 200 index edged 0.10% higher to 5,640.30 points.
In Sydney, the insurance company AMP gained 4.2% to A$5.75 in shares after it said it was focusing on reducing costs, while the software company Iress rallied 9.41% after reporting strong half-year earnings results.
Fed Minutes
On Wednesday, the Federal Reserve released minutes from its July meeting which the Fed officials showed the possibility of ending its monthly bond purchases in October and may boost rates sooner than expected. The committee also acknowledged the lower unemployment and slack in the jobs market.
“Moreover, many participants noted that if convergence toward the Committee’s objectives occurred more quickly than expected, it might become appropriate to begin removing monetary policy accommodation sooner than they currently anticipated,” the minutes read.
The Fed Chair Janet Ellen address central banks from around the globe this week in Jackson Hole, where the European Central Bank President Mario Draghi is also expected to give a speech.
European Stocks
Stock s in the European region was little changed on Thursday after the release of flash PMI figures from France and Germany.
The European Euro Stoxx 50 edged 0.08% higher to 3,085.96 at the time of writing. The German DAX fell 0.07% to 9,308.51 at the time of writing.
The German manufacturing sector came in at 52 points in August from 52.4 recorded in July, while the market expected a reading of 51.5, while the services PMI fell 56.4 from the previous reading of 56.7 points.
In France, the nation’s benchmark CAC 40 gained 0.06% to 4,243.33, while the nation’s flash manufacturing PMI posted 46.5 points in August, lower than July’s reading of 47.8, according to Markit Economics. Meanwhile, the services sector grew to 51.1 points from 50.4 points.
The UK’s FTSE 100 index rose 0.11% to trade at 6,762.31 at the time of writing.
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Asian Stocks
Asian stocks were seen trading mixed on Thursday, with stocks in China dragged lower by the nation’s manufacturing figures.
Japan
The Japanese Nikkei 225 index rallied 0.85%, closing at 15,586.20 points; Tokyo’s Topix index climbed 0.87%, ending at 1,290.75 points.
In Japan, Dainippon Screen Manufacturing shares rose 3.94% to 577 yen after receiving a stock upgrade and Mitsubishi UFJ Morgan Stanley increased its recommendation on the stock. While the internet giants, Yahoo Japan slid by 1.57%.
China
Hong Kong Hang Seng index lost 0.64% to 25,000.03 points at the time of writing, while the Chinese mainland Shanghai Composite fell 0.84% lower to 2,221.62 points.
Energy Company China Resources Power saw the most gains on the Hang Seng index, with shares advancing 3.89% and the telecommunications equipment provider ZTE Corp added 2.8% to HK$17 after it posted an increase in the company’s first-half profit.
Meanwhile, the Chinese preliminary Purchasing Managers’ index from HSBC Holdings and Markit Economics fell to a three-month low of 50.3 in August from the previous reading of 51.7 recorded in July. A figure above 50 indicates expansion, while a reading below shows contraction.
The South Korean Kospi index dropped 1.38%, ending at 2,044.22 points, while the Australian S&P/ASX 200 index edged 0.10% higher to 5,640.30 points.
In Sydney, the insurance company AMP gained 4.2% to A$5.75 in shares after it said it was focusing on reducing costs, while the software company Iress rallied 9.41% after reporting strong half-year earnings results.
Fed Minutes
On Wednesday, the Federal Reserve released minutes from its July meeting which the Fed officials showed the possibility of ending its monthly bond purchases in October and may boost rates sooner than expected. The committee also acknowledged the lower unemployment and slack in the jobs market.
“Moreover, many participants noted that if convergence toward the Committee’s objectives occurred more quickly than expected, it might become appropriate to begin removing monetary policy accommodation sooner than they currently anticipated,” the minutes read.
The Fed Chair Janet Ellen address central banks from around the globe this week in Jackson Hole, where the European Central Bank President Mario Draghi is also expected to give a speech.
European Stocks
Stock s in the European region was little changed on Thursday after the release of flash PMI figures from France and Germany.
The European Euro Stoxx 50 edged 0.08% higher to 3,085.96 at the time of writing. The German DAX fell 0.07% to 9,308.51 at the time of writing.
The German manufacturing sector came in at 52 points in August from 52.4 recorded in July, while the market expected a reading of 51.5, while the services PMI fell 56.4 from the previous reading of 56.7 points.
In France, the nation’s benchmark CAC 40 gained 0.06% to 4,243.33, while the nation’s flash manufacturing PMI posted 46.5 points in August, lower than July’s reading of 47.8, according to Markit Economics. Meanwhile, the services sector grew to 51.1 points from 50.4 points.
The UK’s FTSE 100 index rose 0.11% to trade at 6,762.31 at the time of writing.
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