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Asian markets trade mostly higher in Thursday’s morning deals

01 Aug 2013 Evaluate

Most of the Asian equity indices are in fine fettle in Thursday’s morning deals though the Federal Reserve provided little clarity on the outlook for US stimulus. Sentiments got soothed after Chinese official manufacturing activity data came in better than expected, easing some concerns of a sharp slowdown in the world's second-largest economy. The country’s purchasing managers’ index (PMI) increased to 50.3 from June’s 50.1. A reading above 50 indicates expanding activity while a figure below that level points to a contraction.

Shanghai Composite rose 17.06 points or 0.86% to 2,010.85, Hang Seng increased 126.61 points or 0.58% to 22,010.27, KLSE Composite jumped 5.88 points or 0.33% to 1,778.50, Nikkei 225 surged 187.07 points or 1.37% to 13,855.39, Straits Times added 16.84 points or 0.52% to 3,238.77 and Seoul Composite was up by 7.03 points or 0.37% to 1,921.06.

On the flip side, Jakarta Composite dipped 12.72 points or 0.28% to 4,597.66 and Taiwan Weighted was down by 37.76 points or 0.47% to 8,070.18.

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