Arab Today, arab today asian shares mixed after more weak china data
Last Updated : GMT 19:12:59
Arab Today, arab today
Arab Today, arab today

Asian shares mixed after more weak China data

Arab Today, arab today

Arab Today, arab today Asian shares mixed after more weak China data

Hong Kong - AFP

Asian shares were mixed on Wednesday following data showing that Chinese manufacturing activity shrank further in July, adding to mounting concerns about the world\'s second biggest economy. Profit-takers also weighed on bourses following the previous day\'s regional rally, although the Dow provided another record-breaking lead. Tokyo\'s benchmark Nikkei 225 index fell 47.23 points to 14,731.28, while the Topix index of all first-section shares was down 0.23 percent, or 2.80 points, at 1,219.92 in low-volume trading. Investors were watching the mid-morning release of the preliminary HSBC China Manufacturing Purchasing Managers Index (PMI), which came in at 47.7 in July vs 48.2 in June, an 11-month low, suggesting a continuous slowdown in the huge economy. \"The PMI data didn\'t add a great deal of pessimism to the already negative market, but it may very well act as a weight,\" an equity trading director at a foreign brokerage told Dow Jones Newswires. He noted that trading volumes were light. \"With several players out for the summer holiday and others waiting for confirmation of earnings results, overall activity is simply not very robust.\" Japan reported it had logged a $1.82 billion trade deficit last month, reversing a small year-earlier surplus. Kao, the parent of cosmetics firm Kanebo, fell 6.24 percent to 3,230 yen as the subsidiary said more than 2,000 Japanese had complained about skin discolouring after using its whitening products while it had also widened a consumer recall outside Japan. China-related shares fell, with Fanuc off 0.32 percent at 15,130 and Komatsu down 0.45 percent at 2,386. The Shanghai index was down 0.52 percent, or 10.55 points, at 2,033.33. Hong Kong added 0.24 percent, or 53.51 points, to 21,968.93. But Sydney rose 0.36 percent, or 18.0 points, to 5,035.1 and Seoul finished 0.42 percent higher, adding 7.93 points to 1,912.08. \"The lower reading of the July HSBC Flash China Manufacturing PMI suggests a continuous slowdown in manufacturing sectors thanks to weaker new orders and faster destocking,\" HSBC economist Qu Hongbin said in a statement. The result is the latest in a series of data suggesting previous double-digit growth rates in China are a thing of the past as Beijing looks to shift its growth engine from exports to domestic consumption. Shanghai at one point tumbled more than one percent but it pared those losses towards the end of the day. The market had climbed almost two percent on Tuesday after a report that Premier Li Keqiang had said economic growth should not be allowed to fall below seven percent. The comments suggested the government would be willing to step in with support should the economy look to be in trouble. HSBC\'s Qu added: \"As Beijing has recently stressed to secure the minimum level of growth required to ensure stable employment, the flash PMI reinforces the need to introduce additional fine-tuning measures to stabilise growth.\" In Asian forex trading the dollar bought 100.00 yen compared with 99.48 yen in New York late Tuesday, while the euro fetched $1.3237 and 132.39 yen, against $1.3222 and 131.53 yen. In oil markets New York\'s main contract, West Texas Intermediate for delivery in September, was up 17 cents at $107.40 a barrel and Brent North Sea crude for September delivery shed 22 cents to $108.20. Gold cost $1,340.09 per ounce at 0800 GMT, compared with $1,328.50 late Tuesday. In other markets: -- Wellington rose 0.51 percent, or 18.61 points, to 4,599.20. Telecom was up 0.86 percent at NZ$2.35 and Contact Energy rose 0.55 percent to NZ$5.50. -- Manila rose 0.90 percent, or 60.95 points, to 6,804.16. -- Taipei fell 0.22 percent, or 18.46 points, to 8,196.19. Taiwan Semiconductor Manufacturing Co. put on 2.0 percent to Tw$102.0, while smartphone maker HTC fell 2.85 percent to Tw$170.5.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian shares mixed after more weak china data Arab Today, arab today asian shares mixed after more weak china data

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday