Japan’s stocks eked out another 15-year high Thursday, but weaker-than-expected Chinese manufacturing data kept a cap on gains on the region, including Hong Kong.
In Tokyo, the Nikkei 225 index gained 6.31 points to 20,202.87, for its ninth rise in the last 10 sessions, with the gains pushing the total market capitalization for the broader market close to a record high of ¥590.794 trillion ($4.869 trillion U.S). That compares with the 1989 peak of ¥590.908 trillion.
In Hong Kong, the Hang Seng Index dropped 61.33 points, or 0.2%, to 27,523.72, , after an early reading of the HSBC China manufacturing purchasing managers index, a gauge of the country’s factory activity, came in at 49.1 in May, compared with 48.9 in April. A reading below 50 indicates contraction.
But some individual stocks experienced more volatility as money flows from mainland China gathered steam.
Shares of Goldin Financial, a broker that provides short-term corporate financing, and Goldin Properties, a developer with the same owner, plunged 43% and 41%, respectively.
That follows the crash of shares in Chinese solar maker Hanergy Thin Film Power Wednesday, which fell 47% and remain suspended from trading for a second day. The firm’s parent company today denied it was behind the selloff and said it was operating normally.
Australian markets rose, led by health care companies, which generate a significant amount of earnings in U.S. dollars.
CSL Ltd. climbed 2.2%, Sirtex Medical Ltd. rose 3.1% and Cochlear Ltd. extended Wednesday’s steep gains, soaring 4.8%.
The Australian dollar, which has been weakening the past week, slipped to as low as 0.7877 from 0.7885 against the U.S. dollar, after China’s manufacturing data.
In other markets
The Shanghai CSI 300 gained 86.06 points, or 1.8%, to 4,840.98
In Korea, the Kospi index gave back 16.73 points, or 0.8%, to 2,122.81
In Taiwan, the Taiex tumbled 106.75 points, or 1.1%, to 9,578.56
In Singapore, the Straits Times index nicked up 0.18 points to 3,439.86
In New Zealand, the NZX 50 regained 13.48 points, or 0.2%, to 5,769.27
In Australia, the S&P/ASX 200 recovered 51.97 points, or 0.9%, to 5,662.27
