Most Asian stock markets are moving negatively on Thursday, with the Chinese market gaining ground after the data showed stronger manufacturing activity after the easing of measures to curb Covid-19.
The Japanese Nikkei 225 lost 1.7% to 26,352.48 points in the wake of data showing that industrial production fell 7.2% in June compared to the previous month. This was the largest drop since the outbreak of the coronavirus pandemic in early 2020.
In Hong Kong, the Hang Seng is moving with small losses of 0.2%, while in mainland China, the Shanghai Composite is up 1.4% after the announcement of the monthly data for the PMI.
The data showed the PMI manufacturing index strengthened to 50.2 points in June from 49.6 points last month, following the opening of factories, offices and stores in Shanghai and other major cities. The level of 50 units separates the expansion from the contraction of the activity.
South Korea’s Kospi is down 1.5%, while in Australia the S & P / ASX 200 is down 1.2%. Indicators also show losses in Singapore and Taiwan.
Source: Capital
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