Investing.com - Most Asian stocks traded lower during Wednesday’s session as Syria fears continued to loom large and some emerging markets continued to wilt.
In Asian trading Wednesday, Japan’s Nikkei 225 fell 0.76% despite a strong August PMI report out of the world’s third-largest economy.
Japan’s business activity index rose to rose from 50.6 in July to 51.2 in August. "The latest increase marked the tenth successive reading above the 50.0 no-change mark. This was the longest period of sustained growth ever recorded in this series, which began in September 2007. Anecdotal evidence suggested that higher volumes of new orders was the key driver of the expansion," according to a release by Markit.
Markit added: "The modest recovery of growth evident in the service sector was complemented by the manufacturing industry data, as goods producers recorded the fastest rise in output since February 2011. As a result, the Composite Output Index rose from July’s reading of 50.7 to a level of 51.9 in August."
Hong Kong’s Hang Seng slipped 0.59% while the Shanghai Composite lost 0.13%. Financial services shares were among the laggards in Hong Kong.
Australia's S&P/ASX 200 slid 0.79% even after the Australian Bureau of Statistics said that Australia’s second-quarter GDP grew 0.6% compared with first-quarter growth of 0.5%. The first-quarter number was revised down from growth of 0.6%. Analysts expected second-quarter growth of 0.6%. Australia is the world’s 12th-largest economy.
New Zealand’s NZSE 50 was one of the region’s lone bright spots, inching up 0.03%. South Korea’s Kospi fell 0.28%. Earlier this week, BlackRock said Asia’s fourth-largest economy remains exposed to tapering of quantitative easing by the Federal Reserve.
Singapore’s Straits Times Index slid 1.15% after the SIPMM Central Office said that Singaporean manufacturing PMI fell 50.5 last month from 51.8 in July. Analysts had expected Singaporean PMI to rise to 51.9 last month.
S&P 500 futures inched down 0.02% a day after the benchmark U.S. index rose 0.42%.
In Asian trading Wednesday, Japan’s Nikkei 225 fell 0.76% despite a strong August PMI report out of the world’s third-largest economy.
Japan’s business activity index rose to rose from 50.6 in July to 51.2 in August. "The latest increase marked the tenth successive reading above the 50.0 no-change mark. This was the longest period of sustained growth ever recorded in this series, which began in September 2007. Anecdotal evidence suggested that higher volumes of new orders was the key driver of the expansion," according to a release by Markit.
Markit added: "The modest recovery of growth evident in the service sector was complemented by the manufacturing industry data, as goods producers recorded the fastest rise in output since February 2011. As a result, the Composite Output Index rose from July’s reading of 50.7 to a level of 51.9 in August."
Hong Kong’s Hang Seng slipped 0.59% while the Shanghai Composite lost 0.13%. Financial services shares were among the laggards in Hong Kong.
Australia's S&P/ASX 200 slid 0.79% even after the Australian Bureau of Statistics said that Australia’s second-quarter GDP grew 0.6% compared with first-quarter growth of 0.5%. The first-quarter number was revised down from growth of 0.6%. Analysts expected second-quarter growth of 0.6%. Australia is the world’s 12th-largest economy.
New Zealand’s NZSE 50 was one of the region’s lone bright spots, inching up 0.03%. South Korea’s Kospi fell 0.28%. Earlier this week, BlackRock said Asia’s fourth-largest economy remains exposed to tapering of quantitative easing by the Federal Reserve.
Singapore’s Straits Times Index slid 1.15% after the SIPMM Central Office said that Singaporean manufacturing PMI fell 50.5 last month from 51.8 in July. Analysts had expected Singaporean PMI to rise to 51.9 last month.
S&P 500 futures inched down 0.02% a day after the benchmark U.S. index rose 0.42%.