Investing.com - Asian shares were mixed on Friday in fairly steady trade despite disappointing manufacturing views in China and after a week of potential volatility from a market rescue in China and Greece agreeing to terms to start talks on a new bailout package.
The Shanghai Composite index rose 1.07%, while the Nikkei 225 eased 0.64% and the S&P/ASX 200 fell 0.55%.
The Markit/Caixin survey of China manufacturing showed a decline to 48.2 a 15-month-low, and well below the expected 49.7 and off from June's final of 49.4. Final data is due in August.
The flash reading suggests manufacturing conditions may be deteriorating and will raise questions about the resilience of the economic recovery despite Beijing's confidence for a better second half.
Otherwise, China markets were relatively calm following a report in the UK press that $800 billion has fled the country as a systemic crisis brews.
London's Daily Telegraph cited research reports showing a "frighteningly large" $800 billion has flowed out of China over the past year, as the forces which saw Chinese reserves top out at nearly $4 trillion unwind at a rapid and dangerous pace.
Overnight, U.S. stocks were lower after the close on Thursday, as losses in the Utilities, Basic Materials and Industrials sectors led shares lower.
At the close in New York, the Dow Jones Industrial Average lost 0.67%, while the S&P 500 index fell 0.57%, and the NASDAQ Composite index fell 0.49%.
Global economic uncertainties have eased following the resolution of Greek debt woes and an agreement on controlling Iranian Nuclear programs, though a likely Federal Reserve rate hike this year weighs with data the key focus on that front.
On Wednesday evening, the Greek Parliament ratified two critical measures required by Greece's euro zone creditors to reopen bailout talks. More than a week after Parliament passed an initial package of four measures needed to trigger new discussions, the legislative body approved the latest measures by a 230-63 vote in a late-night session. Five MPs abstained and two others were absent. The action enables Greece and its international creditors to revive negotiations on a three-year €86 bailout.
In the U.S., the Department of Labor said in a weekly report that the number of individuals filing for initial jobless claims for the week ending July 18 fell by 26,000 to a seasonally adjusted 255,000. With the unexpected decline, initial filings fell to its lowest level in more than 40 years. Analysts expected the figure to drop by 1,000 to 280,000.