Asian markets trade higher on China data
City Index June 23, 2014 4:45 PM
<p>Asian markets were trading higher today (23 June), as HSBC’s China purchasing managers’ index rose to 50.8 in June, the first expansion in six months.</p>
Asian markets were trading higher today (23 June), as investors cheered upbeat Chinese economic data and another record close on Wall Street.
HSBC's China purchasing managers' index (PMI) rose to 50.8 in June, the first expansion in six months, which led Australia's benchmark S&P/ASX 200 index to rise 0.8 per cent to 5,450.80.
The bank said the reading shows that the effects of recent mini-stimulus measures unleashed by Beijing to boost growth were filtering through to the economy, AP reports.
Japan's Nikkei rose 0.32 per cent at 15,398.27 and Hong Kong's Hang Seng added 0.43 per cent at 23,293.66.
Singapore's Straits Times was flat at 3,261.84 and China's Shanghai Composite was flat at 2,027.74.
South Korea's Seoul Composite jumped 0.51 per cent or 10 points at 1,978.07. Taiwan's Taiwan Weighted gained 0.21 per cent or 19.32 points at 9,293.11.
Friday's session on Wall Street also lifted sentiment in Asia, with US stocks rising for the sixth straight day.
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