World stock markets rose Friday as stronger growth in Chinese manufacturing suggested the world's second largest economy isn't slowing as drastically as feared. Chinese exchanges were closed for holiday.
Japan’s government reported on Friday that unemployment rates fell in August. The seasonally adjusted unemployment rate decreased to 5.1% in August and marks the second straight month of decline. The government reported a 5.2% reading in July.
Japan's Nikkei closed up 34.88 points, or .37%, to 9,404.23.
In China, September manufacturing PMI numbers beat estimates; reporting a 53.8 as compared to the 52 that was estimated, adding evidence that China is on pace with its overall economic recovery.
China/US Currency Battle -- United States Treasury Secretary Timothy Geithner commented yesterday that China and the U.S. are not going into any sort of a ''currency war.'' Mr. Geithner said he is confident tensions over China's yuan won't lead to escalating trade tariffs or fuel a broader global currency conflict.
The Shanghai Stock Exchange ended the day up 44.98 points, or .1.72%, to 2,655.66. (Data from September 30, 2010. Exchange closed for holiday today.)
The Hang Seng closed down; sliding .09% to 22,358.17. (Data from September 30, 2010. Exchange closed for holiday today.)
Elsewhere, the smaller markets were mixed also:
South Korea's Kospi increased .21% to 1,876.73.
Australia's S&P/ASX 200 fell .081% to 4,579.200.
India's Sensex rose 1.82%.
Malaysia's Kuala Lumpur Composite Index gained 2.82 points to 1,466.32.
Indonesia's Jakarta Composite Index was a winner as it rose 1.31%.
Shenzhen Composite gained 1.670% to 1,223.250. (Data from September 30, 2010. Exchange closed for holiday today.)
Taiwan's Taiex rose .08%.
Singapore's Straits Times Index climbed 1.07%.
New Zealand's NZX 50 closed up 1.10%.
Philippine shares were up .291%.
Shares in Thailand rose .336%.
