Asian markets trades in green on European optimism

Most of the Asian markets have started trade on a positive note as investors were optimist about some solution to the debt crisis in Europe after leader of the region said they will try to bring the borrowing cost down in countries like Spain and Italy. There was positive sentiment among the investors on some positive economic data from the region; a survey report showed Japanese manufacturer became less pessimistic in the month of June.

Nikkei was up by 14.15 points or 0.16 percent to 9020.23,  Kospi composite jumped to 3.17 point or 0.17 percent to 1857.25. Taiwan Weighted index surged 51.98 point or 0.71 percent 7348.76. Jakarta Composite accumulated 31.62 points or 0.78 percent to 3985.12. Strait Times soared 15.61 points or 0.57 percent to 2895. KLSE composite advanced 4.67 points or 0.29 percent to 1603.

Meanwhile, Shanghai Composite fell 1.44 points or 0.06 percent to 2224 on weak manufacturing data, which grew at its slowest pace since November. Its official manufacturing manager index fell 50.2 in June from that of 50.4 in May. The new-orders sub index fell to 49.2 last month from 49.8 in May, while new export orders dropped to 47.5 from 50.4. The imports sub index was at 46.5 in June, down 1.6 points.

Hang Seng Index remained closed due to a public holiday today.