Investing.com - Asian stock markets were mostly higher during late Asian trade on Thursday, as sentiment improved following the release of data showing manufacturing activity in China expanded at the fastest rate in two years last month.
During late Asian trade, Hong Kong's Hang Seng Index eased down 0.1%, Australia’s ASX/200 Index ended up 0.5%, while Japan’s Nikkei 225 Index rallied 1.3%.
Midway through the session, data showed that China’s HSBC Flash Purchasing Managers Index, the earliest indicator of the country's industrial activity, rose to a 24-month high of 51.9 in December from a final reading of 51.5 in November.
The upbeat data added to the view that China’s economy is gaining momentum, boosting the outlook for many of the region’s exporters.
In Tokyo, the Nikkei rose for the first time in three days as the yen weakened against the U.S. dollar after Vice Finance Minister Takehiko Nakao said that Tokyo is closely watching the yen’s moves.
The greenback traded at 89.41 against the yen, re-approaching a 32-month high hit earlier in the week. A weaker yen boosts the value of overseas income at Japanese companies when repatriated.
Automakers Mazda and Nissan jumped 9.1% and 2% respectively, while heavy machinery maker Komatsu rose 2.2%.
On the downside, shares in Japanese suppliers for the iPhone came under pressure following weaker-than-expected earnings figures from Apple after Wednesday’s closing bell.
Shares in Ibiden, which makes printed circuit boards for the iPhone, tumbled 4.7%.
Meanwhile, in Australia, the benchmark ASX/200 Index inched up to a fresh 21-month high, boosted by strong gains in the country’s banking sector.
The big four banks all rose, with National Bank of Australia gaining the most, up 1.3%.
Elsewhere, in Hong Kong, the Hang Seng swung between gains and losses as investors were hesitant to extend a rally that took the index to a 21-month high in the previous session.
Looking ahead, European stock market futures pointed to a modestly lower open, ahead of the release of closely watched euro zone PMI data later in the session.
The EURO STOXX 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 futures shed 0.2%, London’s FTSE 100 futures dipped 0.1%, while Germany's DAX futures pointed to a drop of 0.1% at the open.
The U.S. was to release the weekly government report on initial jobless claims later in the trading day.
During late Asian trade, Hong Kong's Hang Seng Index eased down 0.1%, Australia’s ASX/200 Index ended up 0.5%, while Japan’s Nikkei 225 Index rallied 1.3%.
Midway through the session, data showed that China’s HSBC Flash Purchasing Managers Index, the earliest indicator of the country's industrial activity, rose to a 24-month high of 51.9 in December from a final reading of 51.5 in November.
The upbeat data added to the view that China’s economy is gaining momentum, boosting the outlook for many of the region’s exporters.
In Tokyo, the Nikkei rose for the first time in three days as the yen weakened against the U.S. dollar after Vice Finance Minister Takehiko Nakao said that Tokyo is closely watching the yen’s moves.
The greenback traded at 89.41 against the yen, re-approaching a 32-month high hit earlier in the week. A weaker yen boosts the value of overseas income at Japanese companies when repatriated.
Automakers Mazda and Nissan jumped 9.1% and 2% respectively, while heavy machinery maker Komatsu rose 2.2%.
On the downside, shares in Japanese suppliers for the iPhone came under pressure following weaker-than-expected earnings figures from Apple after Wednesday’s closing bell.
Shares in Ibiden, which makes printed circuit boards for the iPhone, tumbled 4.7%.
Meanwhile, in Australia, the benchmark ASX/200 Index inched up to a fresh 21-month high, boosted by strong gains in the country’s banking sector.
The big four banks all rose, with National Bank of Australia gaining the most, up 1.3%.
Elsewhere, in Hong Kong, the Hang Seng swung between gains and losses as investors were hesitant to extend a rally that took the index to a 21-month high in the previous session.
Looking ahead, European stock market futures pointed to a modestly lower open, ahead of the release of closely watched euro zone PMI data later in the session.
The EURO STOXX 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 futures shed 0.2%, London’s FTSE 100 futures dipped 0.1%, while Germany's DAX futures pointed to a drop of 0.1% at the open.
The U.S. was to release the weekly government report on initial jobless claims later in the trading day.