Asian markets trade mostly higher; China PMI manufacturing at 51.2

The Kospi up 1.02%, the Shanghai Composite up 0.91%, while the Shenzhen Component added 0.50%.

Jul 01, 2020 10:07 IST India Infoline News Service

Asian markets were trading mostly higher on Wednesday. The stock markets in Hong Kong are closed for a holiday.

The Kospi up 1.02%, the Shanghai Composite up 0.91%, while the Shenzhen Component added 0.50%. On the other hand, the Nikkei 225 in Japan and the Topix index slipped into the negative zone.

The Caixin/Markit manufacturing Purchasing Manager’s Index for June came in at 51.2.

As per media reports, President Donald Trump has tweeted about the spread of the coronavirus and his anger towards China. "As I watch the Pandemic spread its ugly face all across the world, including the tremendous damage it has done to the USA, I become more and more angry at China. People can see it, and I can feel it!"

The dollar held onto gains against the yen and gold hovered near an eight-year high, while oil prices rose about 1% after industry data showed crude inventories in the United States fell much more than expected.

Overnight on Wall Street, the Dow Jones Industrial Average surged 217.08 points, or 0.9%, to close at 25,812.88, the S&P 500 gained 1.5% at 3,100.29 and the Nasdaq Composite advanced 1.9% to close at 10,058.77. 

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