Asian stocks at six-year high

Source: Bloomberg
Asian stocks were traded close to a six-year high as the Chinese manufacturing gauge reached its strongest level in 18 months. The MSCI Asia Pacific was little changed at 148.49, but the gauge closed yesterday at its highest level since 2008. Shanghai Composite Index went up 1.3% while Hang Seng China Enterprises Index increased 1%. Japan's Topix dropped 0.2% and South Korea's Kospi Index decreased 0.1%.  
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Thu, 24 Jul 2014 11:09:10 GMT

French manufacturing PMI drops to seven-month low

In France, manufacturing sector contracted to the lowest level in seven months. Manufacturing PMI dropped from 48.2 in June to 47.6 in July. It had been forecast to be at 48.1, therefore being inferior to what analysts expected. However, the Services PMI increased from 48.2 to 50.4 this month. Values over 50 show industry growth, if below, they show contraction.

Thu, 24 Jul 2014 10:47:10 GMT

Aussie rises due to positive Chinese PMI data

The Australian Dollar advanced as its main trading partner China had positive results in the preliminary PMI and showed a possible turnaround for the economy. The AUD/USD pair gained 0.13% and was trading at 0.9469 after the data had come out. Simultaneously, the NZD/USD went down 0.60% to 0.8621 after the RBNZ raised its OCR to 3.5%.

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