Major Asian markets rise today
Major stock markets in the region recorded growth today after investors showed mixed reactions for the weaker manufacturing data from China.
Japan's Nikkei 225 recorded an increase of 1.78 per cent to 11,588.7, Hong Kong's Hang Seng Index rose 0.06 per cent to 22,795.52, Shanghai's Composite Index expanded 0.16 per cent to 2,317.97 while Singapore's Straits Times Index strengthened 0.09 per cent to 3,291.15. South Korea's Kospi recorded a fall of0.27% to 2,013.40 and Taiwan's TAIEX declined 0.26 per cent to 7,966.08.
The preliminary HSBC Manufacturing Purchasing Managers Index for China fell to 50.4 in February compared to 52.3 recorded in the month of January. The fall is believed to be mainly due to lower demand for Chinese exports in the global economy. The comprehensive index is seasonally adjusted and it shows changes in the sector. A rating of more than
50 shows expansion while a rating of below 50 shows contraction.
Meanwhile, the FBM KLCI in Malaysia increased 3.34 points or 0.21 per cent to 1,625.42 today. The total turnover of shares was 397.51 million recorded at RM521.14 million. The dat showed that there were 230 gainers, 246 losers and 266 counters unchanged.