Chinese stocks rise after upbeat PMI data

Friday, 01. November 2019 04:22

Stocks in East Asia were mostly in positive territory on Friday, after it was reported that the manufacturing sector's growth accelerated in China, with positive expectations for the next 12-month period. Meanwhile, Japan's unemployment rate increased slightly for the first time in four months.

On the trade front, United States President Donald Trump revealed he is working with China to select a new venue for the signing of the "phase one," or 60%, of the trade deal. Messages from both Washington and Beijing in regard to the ongoing negotiations remained positive.

The Nikkei 225 was the only index in the red, down 0.41% at 3:35 am CET. Kospi Composite in Seoul increased 0.44% at 4:19 am CET.

Hong Kong's Hang Seng added 0.36% at 4:19 am CET, as the Shanghai Composite grew 0.47% and the Shenzhen Composite jumped 1.17% concurrently.

Australia's S&P/ASX 200 was up 0.11% at 4:20 am CET.

The dollar was flat against the yen at 4:21 am CET, buying ¥108.0270.

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Breaking the News / NI