Asian stocks were mixed Thursday, with China lower after a weak
report on Chinese manufacturing activity.
The Hang Seng was down 0.6%, after HSBC reported that its flash
China manufacturing Purchasing managers index for August fell to
50.3 from 51.7 in July. The data follows a string of disappointing
economic data from China, Europe and the U.S. recently. On the
mainland, the Shanghai Composite Index was down 0.3%.
Expectations for continued low interest rates in the U.S.,
however, buoyed market sentiment in the region. The Nikkei was up
1.0%, extending its eight-session winning streak, amid a stronger
dollar. The dollar was last at Yen103.75, compared with Yen103.71
late Wednesday in New York, aiding Japanese exporters.
The dollar-yen pair rose as the U.S. Federal Reserve appeared to
be shifting to a more hawkish stance. Minutes by the U.S. central
bank indicated that while policy makers talked about a
sooner-than-anticipated increase in interest rates, they decided to
put off raising rates in favor of more evidence of an economic
improvement. Investors are looking next to Fed Chairwoman Janet
Yellen's speech on Friday.
Australia's S&P/ASX 200 gained 0.6%, as the domestic
earnings season rolled on. Treasury Wine is down 0.7%, after the
firm reported operating earnings of A$184.6 million, a figure at
the bottom-end of its full year guidance that potentially takes
pressure off private-equity firms bidding for the vintner to raise
their 3.38-billion-Australian dollar (US$3.14 billion) offers.
Elsewhere, South Korea's Kospi was down 0.7%. Hyundai Motor was
down 2.8% on concerns that a planned strike would disrupt
production. A final decision on strike details is expected at a
union meeting scheduled Thursday.
Write to Chao Deng at Chao.Deng@wsj.com
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