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Asian Shares Mixed After Better-than-Expected China Data, Typhoon That Closes Hong Kong for Half A Day
By: MT Newswires
Asian stocks were mixed after China manufacturing data came in better than expected.
The "flash" version of the China manufacturing Purchasing Managers' Index, published by HSBC and Markit, rose to 51.2, compared to August's final result of 50.1. Economists on average had expected a 50.9 reading, according to a Bloomberg survey. A reading above 50 indicates expansion, while anything below that signals contraction.
Shanghai reopened on Monday after being closed on Thursday and Friday. Japan was closed on Monday for a holiday and Hong Kong opened late due to Typhoon Usagi.
In ADR news, News Corp ( NWSA ) reported a FY profit of $506 million, or $0.87 a share, compared with a loss of $2.08 billion, or $3.58 a share, for the prior period. Revenue increased 2.7% to $8.89 billion. Analysts recently polled by Thomson Reuters had estimated earnings of $0.57 a share on $8.96 billion in revenue.
Yongye International ( YONG ) has agreed to go private for $6.69 in an agreement with Full Alliance International Limited, a British Virgin Islands company and other Yongye companies formed for the purpose of carrying out the arrangement. Currently, Full Alliance, Zischen Wu, Prosper Sino Development and MSPEA Agriculture Holding Limited own about 33.1% of YONG.
The Hang Send ended down 0.56% at 23,371.54 and the Straits Times down 0.72% at 3,214.25. China's Shanghai Composite Index added 1.3%.