Asian markets mostly higher; data remains in focus

Asian equity indexes were mostly in green territory on Thursday, regaining positions following a previous session sell off in the light of major losses in Wall Street.

Japan’s Nikkei 225 index was over one percent in the day, snapping a six-day losing streak with energy-related components pushing to the upside amid rising crude oil prices.

In South Korea, the Kospi remained on the positive side but still close to breakeven, with key names such as Samsung Electronics and SK Hynix registering moderate gains. Steelmaker Posco was among best performers, adding nearly 3.68 percent.

In Australia, the S&P/ASX 200 was supported by financials and materials components, both categories rising more than one percent in Asian hours.

Hong Kong’s Hang Seng Index began the day with the right foot, but later gave up gains to settled lower. Financials, technology and energy moved in different directions.

Earlier in the day, China’s Caixin manufacturing PMI for January came in line with expectations at 51.5 points, showing no change from the prior reading.

The Dow Jones industrial average ended Wednesday 72.5 points higher at 26,149.39. The S&P 500 was up 0.1 percent to 2,823.81, while the Nasdaq gained 0.1 percent to 7,411.48.

As it was widely expected among investors, the US regulator opted to keep interest rates steady at a range between 1.25 and 1.50 percent, reassuring its position to move forward with at least three interest rate hikes in 2018.

On the data front, ADP said nonfarm employment increased by 234,000, above an estimated 186,000 jobs addition. The employment cost index came in line with forecast at 0.6 percent.

<<< Asian Stock Indexes at 07:25 GMT >>>

Australia ASX S&P +52.30 +0.85% 6,198.80

Shanghai Composite -33.85 -0.97% 3,446.98

Hong Kong Hang Seng -134.85 -0.41% 32,752.42

Japan Nikkei 225 +387.82 +1.68% 23,486.11

Taiwan TSEC 50 Index +56.46 +0.51% 11,160.25

<<< Next in the Europe >>>

Ahead in the day, attention will be directed to manufacturing PMIs for January from Germany (Forecast: 61.2) at 08:55 GMT and the Eurozone at 09:00 GMT (Forecast: 59.6).

<<< Next in the United States >>>

Ahead in today’s session, Markit Economics’ manufacturing PMI is due for release at 14:45 GMT. The Institute for Supply Management will publish its manufacturing PMI for Jan as of 15:00 GMT.

Fort Financial Services