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Asian markets end mostly lower on weak Chinese manufacturing activity

21 Aug 2014 Evaluate

Asian markets ended mostly in the red on Thursday on the back of a lower-than-expected preliminary reading of Chinese manufacturing activity. Growth in China’s vast manufacturing industry weakened in August, suggesting that the recovery in the world No. 2 economy is losing momentum and Beijing may need to spoon out more stimulus. The preliminary version of HSBC’s manufacturing index fell to a three-month low of 50.3 from 51.7 in July, indicating that manufacturing businesses are barely growing. However, Japanese Nikkei gained by around a percent on the prospect of a stronger dollar after Fed minutes showed policymakers are leaning toward their first rate hike since the 2008 financial crisis. On economic front, the Markit/JMMA flash Japan PMI jumped to a seasonally adjusted 52.4, up from 50.5 in July and the highest reading since March just before a hike in taxes sent demand cratering.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2230.46

-9.75

-0.44

Hang Seng

24994.10

-165.66

-0.66

Jakarta Composite

5206.14

15.97

0.31

KLSE Composite

1874.81

-4.08

-0.22

Nikkei 225

15586.20

131.75

0.85

Straits Times

 3324.09

0.44

0.01

KOSPI Composite

2044.21

-28.57

-1.38

Taiwan Weighted

9253.38

-34.67

-0.37

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