Asian equities were mixed on Thursday in a quiet session with several markets shut for the ‘May 1’ public holiday, including China, South Korea and Hong Kong.
Focus was on China’s official purchase manufacturing index (PMI), which rose to 50.4 in April. The reading was slightly better than March’s official figure of 50.3 and HSBC’s preliminary April reading of 48.3. Still, it missed analyst estimates for a 50.5 reading.
Gains on Wall Street overnight helped to lift sentiment in Asia. The Dow Jones Industrial Average hit its first record close of the year after the Federal Reserve reduced its monthly bond buying program by another $10 billion, its fourth consecutive cut.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015