Asian markets rise on manufacturing data

  • Date: 02-February-2012
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    HONG KONG: Asian markets rose on Thursday as upbeat manufacturing data from across the globe lifted spirits, while traders were also confident Greece would soon reach a deal with creditors to slash its debt.


    With China and India on Wednesday posting strong growth in manufacturing activity last month, and Europe and the United States following suit, analysts said there was some hope that a recovery could be back on track.

    Tokyo gained 0.84 percent, Sydney added 0.95 percent, Seoul was 1.46 percent higher, Shanghai climbed 0.26 percent and Hong Kong was up 1.50 percent.

    On Wednesday China, the world's number one exporter, reported a second month of expansion. The official purchasing managers index (PMI) rose to 50.5 in January from 50.3 in December, after contracting for the first time in 33 months in November, when the PMI stood at 49.