Friday, February 21, 2014

Most Asian Stock Markets Strong After a Strong Expansion in US Manufacturing Data

Good day, Most Asian stock markets rose Friday after a strong expansion in U.S. manufacturing offset pessimism from a downbeat China factory report. The private survey by Markit found U.S. factory activity this month grew at the fastest pace in nearly four years. This is the trigger

The report helped investors shrug off earlier concerns about China after a separate report found manufacturing in the world's second-biggest economy contracted for a second straight month in February. Japan's benchmark Nikkei 225 index jumped 2 percent to 14,741.42 as the yen weakened after a sharp gain the day before. Meanwhile a weak yen boosts export stocks in Japan. South Korea's Kospi gained 1 percent to 1,950.69. Hong Kong's Hang Seng added 0.6 percent to 22,523.04 and Australia's S&P/ASX 200 advanced 0.6 percent to 5,445.60. However, the Shanghai Composite Index dropped 0.9 percent to 2,118.93

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