2 Sep 2013
Bulls outweigh bears in Asian equity markets
FXstreet.com (Chicago) – Asian equities reveal bullish momentum after the release of positive Chinese manufacturing and Australian data.
In Japan, the Nikkei 225 opened at 13,431.00 and is not trading at 13,411.50, 0.80% higher. The Hang Seng is up 2.04% while the Shanghai remains printing losses at -0.16%. The NBS manufacturing PMI for August was 51.0 vs. prior 50.3 and expected 50.6 in China while the HSBC manufacturing PMI for the same month was 50.1 vs. expected 50.2 and past 47.7. Signs of recovery and economic expansion triggered bullish sentiment among market participants as Asian currencies strengthened shortly after the facts were made public.
In Australia, the Australia ASX All Ordinaries trades 0.92% higher after positive housing market data with building permits (YoY) at 28.3% vs. prior -13%. Later in the day, the RBA commodity index SDR is due. In India, the Mumbai Sensex trades 1.19% stronger after historic devaluation of its currency. The Taiwan is down 0.01% as of now.
In Japan, the Nikkei 225 opened at 13,431.00 and is not trading at 13,411.50, 0.80% higher. The Hang Seng is up 2.04% while the Shanghai remains printing losses at -0.16%. The NBS manufacturing PMI for August was 51.0 vs. prior 50.3 and expected 50.6 in China while the HSBC manufacturing PMI for the same month was 50.1 vs. expected 50.2 and past 47.7. Signs of recovery and economic expansion triggered bullish sentiment among market participants as Asian currencies strengthened shortly after the facts were made public.
In Australia, the Australia ASX All Ordinaries trades 0.92% higher after positive housing market data with building permits (YoY) at 28.3% vs. prior -13%. Later in the day, the RBA commodity index SDR is due. In India, the Mumbai Sensex trades 1.19% stronger after historic devaluation of its currency. The Taiwan is down 0.01% as of now.