Asian stocks rise on manufacturing data

<p>Most Asian stock markets have increased due to positive manufacturing data.</p>

Asian stocks enjoyed growth in early trading this morning (November 23rd), as manufacturing figures across the continent showed signs of improvement.

According to the latest figures, Chinese markets recovered from a fall the previous day, while Taiwanese shares skyrocketed following reports of bond-buying by the country's government, reports Market Watch. 

Preliminary ratings from HSBC highlighted that China's Purchasing Managers' Index increased to 50.4 in November, representing the first advances in more than a year.

In addition, although data showed the region's factories remain in contraction, business conditions rose to an eight-month high.

Regional benchmarks in Asia surged on data that showed an improvement in manufacturing from China and the eurozone.

Hong Kong's Hang Seng Index increased by 0.4 per cent, while China's Shanghai Composite advanced by 0.6 per cent and South Korea's Kospi was up 0.3 per cent.

Singapore-based economist Tim Condon from ING Financial Markets Research said: "The adverse spending shock is over. It’s now about slow growth in the U.S., an export-led recovery in China and recession in the eurozone."

Find the latest spread betting strategies for the FTSE 100 at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.