23rd April 2014
Asian markets have been mixed today (April 23rd), following the release of latest manufacturing data out of China and comments from Bank of Japan (BoJ) governor Haruhiko Kuroda.
The preliminary purchasing managers' index from HSBC indicated the Chinese economy shrank for a fourth consecutive month in April, producing a flash reading of 48.3 - below the 50.0 level separating growth and contraction.
While this suggests the state may be required to intervene further to boost the country's stock market, investors in China appeared to have little desire to take a positive view on the figures.
In Hong Kong, the Hang Seng reversed an earlier gain to shed 0.97 per cent, while the Shanghai Composite closed down by 0.26 per cent.
Tokyo's Nikkei 225 index surged after Mr Kuroda stated in the Japanese parliament that the country's economy remains on track to meet the BoJ's two per cent inflation target, causing the market to end the session up by 1.09 per cent at 14,546.27 points.
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