Asian stocks were mixed today (September 24th) as investors worried about weak manufacturing data from Japan and China.
The preliminary Caixin China Manufacturing Purchasing Managers’ Index fell to 47 in September, compared to a final reading of 47.3 in August – the lowest reading in six years.
Investors also focused on US Federal Reserve chair Janet Yellen's speech due later in the day, hoping to get additional clues on when the central bank plans to raise interest rates.
Japanese shares tumbled as trading resumed after a three-day holiday. New data revealed that Japanese manufacturing activity expanded at a slower pace in September. The latest survey from Nikkei revealed a PMI score of 50.9, down from 51.7 in August.
Shares in Japan's auto-related sectors were also hit by the Volkswagen AG's diesel-emissions scandal.
China's Shanghai Composite index rose 0.9 per cent to 3,142.69 after losing more than two per cent in the previous session on growth worries. Hong Kong's Hang Seng index was down one per cent to 21,095.98.
Japan's Nikkei 225 tumbled 2.8 per cent to 17,571.83 and South Korea's Kospi rose 0.1 per cent to 1,947.10. Australia's S&P/ASX 200 gained 1.2 per cent to 5,060.10.
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