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A solid close on Wall Street overnight translated into somewhat softer gains in Asia on Thursday morning. Asian markets were generally higher on Thursday, with a slew of manufacturing data from the region prompting little reaction, while Chinese bourses were closed.
Chinese stock markets were shut on Thursday in observance of National Day. Chinese factory activity continued to deteriorate last month as new work fell at the quickest rate in three years, raising fresh calls for policymakers to add more stimulus as the economy continues to slow. The Caixin-Markit China manufacturing Purchasing Managers' Index (PMI) fell to 47.2 in September, the lowest since March 2009, from 47.3 in August, coming in stronger than the preliminary reading of 47.0. The Purchasing Managers' Index rose from 49.7 in August to 49.8 last month, signalled a slight moderation in the industry's contraction.
Japan's benchmark Nikkei 225 index rose 0.27% to 17,435.02 points within the first hour of trade, while Tokyo's broader Topix gauge jumped 0.64% to 1,420.25 points. The Bank of Japan (BoJ) Tankan Manufacturing Index of large-scale factories fell from 15 to 12 in the September quarter.
Korea's benchmark Kospi index advanced 0.21% to 1,966.90 points this morning in Seoul.
The benchmark Australian S&P/ASX 200 index rose 0.80% to 5,061.90 points in Sydney, with Australia's big lenders supporting the index, as well as resource stocks.
New Zealand's benchmark S&P/NZX 50 index fell 0.18% to 5,583.35 points this afternoon in Wellington.
