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MoneyWorks4Me

Asian markets close higher on Tuesday

01 Dec 2015 Evaluate

Asian markets closed in positive territory on Tuesday as investors were unfazed by a lower finish on Wall Street overnight, with the Nikkei breaking the 20,000 benchmark for the first time in three months, Encouraging economic data from Japan boosted investors' appetite for risk. The uptrend was despite China reporting a weak Purchasing Managers' Index (PMI) for November. Reports showed that China's manufacturing PMI, a measure of activities in the factory sector, declined marginally, from 49.8 in October to 49.6 in November. China's manufacturing PMI, according to Caixin/Markit, indicated that factory activity for November declined at a slower rate than in the previous month. The services sector PMI had a reading of 53.6 in November, 0.5 point higher than the previous month, reflecting the country's gradual shift to a more services-led economy. Japanese shares rose for the first time in three days as a weak yen bolstered exporter shares. Economic reports were mostly positive, with a gauge of manufacturing activity expanding at its fastest pace in 20 months in November, while an 11.2 percent increase in capital expenditure in the July-September period pointed to upward revision to third-quarter GDP data. South Korea's KOSPI closed higher after government report showed South Korea's consumer inflation inched up to a one-year high in November on recovery in consumption, spurring hopes about recovery in Asia's fourth-largest economy. However, gains were capped by official data from the ministry of trade, industries and energy showing that the country's exports declined for the 11th consecutive month in November.

Asian IndicesLast TradeChange in Points

Change in %

Shanghai Composite3,457.7312.330.36
Hang Seng22,381.35384.931.75
Jakarta Composite4,557.67111.212.50
KLSE Composite1,682.3710.21 0.61
Nikkei 22520,012.40264.931.34
Straits Times2,870.2614.320.50
KOSPI Composite2,023.9331.961.60
Taiwan Weighted8,463.30142.691.71