Asian markets mostly higher despite China's PMI drop
FXstreet.com (Barcelona) - The never ending Japan's Nikkei upside has turned into the longest weekly winning streak since 1959, with the index rising +0.47% this Friday. China's Shanghai Composite gained +1.37%, Australia's ASX/S&P200 moved up by +0.9% and Indonesia's Jakarta Composite rose +1.47%. On the other hand, South Korea's Kospi dropped -0.21% and Hong Kong's Hang Seng fell -0.07%.
China's official PMI was the most important piece of data during the session, and it fell from 50.6 to 50.4, against a rising consensus of 51 (new orders: +0.4pts to 51.6; output: -0.7pts to 51.3; export orders: -1.5pts to 48.5). However, it seems that a tripling of the sample size from 820 to 3000 makes it hard to draw firm conclusions about the data. HSBC's version of the PMI rose to 52.3 (51.9 flash) from 51.5, a two-year high.
Futures for the German DAX 30 (+0.02%) and the French CAC 40 (+0.14%) ahead of Markit PMI data, and EMU CPI and unemployment rate. WTI crude oil is up to $97.65 (+0.14%) and Gold eases to $1664 (-0.66%).
China's official PMI was the most important piece of data during the session, and it fell from 50.6 to 50.4, against a rising consensus of 51 (new orders: +0.4pts to 51.6; output: -0.7pts to 51.3; export orders: -1.5pts to 48.5). However, it seems that a tripling of the sample size from 820 to 3000 makes it hard to draw firm conclusions about the data. HSBC's version of the PMI rose to 52.3 (51.9 flash) from 51.5, a two-year high.
Futures for the German DAX 30 (+0.02%) and the French CAC 40 (+0.14%) ahead of Markit PMI data, and EMU CPI and unemployment rate. WTI crude oil is up to $97.65 (+0.14%) and Gold eases to $1664 (-0.66%).
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