On Thursday, the Asian markets closed on a mixed note, while a few struggled and still couldn't make, others managed to cope up due to additional help. Sentiment closed at a positive note after being aided as there was a recovery in the activities concerning the Chinese manufacturing. Panasonic couldn't make it and fell in Tokyo after cuts in its earnings view.
Official findings suggest that the readings of the month of October closed at 50.2, which exceeded the previous months' readings of 49.8; however, it was less than the predicted figures by a Dow Jones poll of 50.3.
Chinese manufacturing Purchasing Managers Index showed an increase by crossing the 50 mark, which was a sign that there was a growth in terms of manufacturing activity following the two months, during which the activity shrunk.
Grace Ng, senior China economist at JPMorgan asserted that significant jump exhibited by the numbers simply means that the activity is on the path of recovery and it is a positive matter. Moreover, it is supporting the note that the economy has already descended to its lowest point and after this only rise is possible.
HSBC's China Manufacturing PMI has been able to acquire the highest point since the past eight months, with 49.5 in October, in comparison to 47.9 in September.
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