Asian equities are mixed with China down notwithstanding sold manufacturing PMI

Asian equities are mixed with China down notwithstanding sold manufacturing PMI

On Thursday, Asian shares were quite mixed, with a firm manufacturing PMI from China dipping to lift Shanghai or Hong Kong, although other financial markets managed to gain on local data sets.

The Shanghai Composite went down 0.65%, the Hang Seng index sagged 0.56%.

In China, August’s official manufacturing Purchasing Managers' Index hit 51.7, surpassing hopes, as Tuesday’s data disclosed.

Experts surveyed by Reuters actually expected China to report official PMI of 51.3 for August, a minor dip from July’s reading of 51.4.

Japan’s provisional industrial output slumped 0.8% for July, which is more than a 0.5% sag expected. The Nikkei 225 leapt 0.74%.

Additionally, Toshiba's try to sell its memory chip unit turned to be in the spotlight right after Reuters announced a consortium headed by Bain Capital had rolled out a last-minute bid of about $18 billion.

Overnight, American equities concluded higher, buoyed by reports showing the US economy is still on track to demonstrate sturdy surge in the third quarter, thus raising investor sentiment on riskier assets.



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