Asian markets mostly higher despite weak China, Japan data

Source: AP-Excite

By ELAINE KURTENBACH

TOKYO (AP) — Asian shares rose Thursday despite fresh data showing economic weakness in China and Japan, as investors pinned their hopes on further stimulus measures. Monetary easing and ample liquidity are drawing foreign investors, boosting markets across the region.

KEEPING SCORE: Japan's Nikkei 225 remained above the 20,000 mark it broached for the first time in 15 years the day before, gaining 0.2 percent to 20,180.74. Hong Kong's Hang Seng index added 0.5 percent to 28,073.26 and South Korea's Kospi gained 1.4 percent to 2,174.72. Australia's S&P ASX/200 was nearly flat at 5,836.70, and markets in Southeast Asia were mixed.

CHINA MANUFACTURING: HSBC said Thursday that a preliminary version of its index based on a survey of factory purchasing managers fell to 49.2 in April, its lowest point in a year, from 49.6 in March. Readings below 50 indicate contraction. The fresh sign that growth is faltering in the world's second biggest economy will add to pressure on policymakers in Beijing to act to stave off a sharper slowdown.

JAPAN DATA: A survey in Japan showed a third straight monthly fall in manufacturing, from 50.3 in March to 49.7 in April, suggesting industries are still not in full recovery mode after the recession brought on by a sales tax hike on April 1, 2014.

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FILE - This Jan. 4, 2010 file photo shows an historic marker on Wall Street in New York. Japan's stock benchmark closed above the 20,000-level for the first time in 15 years Wednesday, April 22, 2015, encouraged by the country's first monthly trade surplus since 2012. European stocks fell, however, and Wall Street was expected to open lower. (AP Photo/Mark Lennihan, File)

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