Asian markets end mostly in green on Thursday

The Asian markets concluded Thursday’s trade mostly in green, with the benchmark indices poised to extend a six-year high, after a preliminary industry survey showed China’s manufacturing sector in solid expansion territory. Hong Kong stocks rose, with the city’s benchmark index gaining to a three-year high, as a gauge of mainland manufacturing topped analyst estimates. HSBC’s China flash manufacturing PMI for July rose to 52.0, a jump from the June reading of 50.7 which indicated that the economy is finally turning around. A sub-index measuring new orders, a gauge of demand at home and abroad, hit a 18-month high of 53.7, while the sub-index for output also rose to a 16-month high in June. The employment index also improved from May, though it was still a shade under 50, which implies that jobs are still being lost in the manufacturing sector. Japan’s trade balance fell to a seasonally adjusted -1.08T, from -0.86T in the preceding month. Hong Kong Trade Balance fell to a seasonally adjusted -43.1B, from -42.4B in the preceding month. South Korean GDP fell to a seasonally adjusted annual rate of 3.6%, from 3.9% in the preceding month.