By Chao Deng
Asian stocks finished mixed Thursday, with China shares falling
after data showed Chinese manufacturing activity down at a
three-month low.
The Hang Seng closed off by 0.7% to 24,994.10, after HSBC
reported that its flash China manufacturing Purchasing managers
index fell to 50.3 in August, from 51.7 in July. The data follows a
string of disappointing economic data from China, Europe and the
U.S. recently. On the mainland, the Shanghai Composite Index was
down 0.4%.
Expectations for continued low interest rates in the U.S.,
however, buoyed market sentiment in the region. The Nikkei was up
0.9% to 15586.20 Thursday, now its ninth straight day winning
streak, amid a stronger dollar. The dollar was last at Yen103.85,
compared with Yen103.71 late Wednesday in New York, aiding Japanese
exporters.
The dollar-yen pair rose as the U.S. Federal Reserve appeared to
be shifting to a more hawkish stance. Minutes by the U.S. central
bank indicated that while policy makers talked about a
sooner-than-anticipated increase in interest rates, they decided to
put off raising rates in favor of more evidence of an economic
improvement. Investors are looking next to Fed Chairwoman Janet
Yellen's speech on Friday.
Australia's S&P/ASX 200 finished almost flat at 5638.9, as
the domestic earnings season rolled on and as banks and miners
pared intraday gains following disappointing China manufacturing
data. Treasury Wine Estates shares fell after the company reported
operating earnings of A$184.6 million, a figure at the bottom-end
of its full-year guidance that potentially takes pressure off
private-equity firms bidding for the vintner to raise their
offers.
But, the index remains on track for 6000 by December amid low
interest rates, a positive domestic-earnings outlook, still solid
growth in China, and a strengthening U.S. economic recovery,
according to Macquarie Private Wealth division director Martin
Lakos. "We are still seeing a very accommodative U.S. monetary
policy outlook, and leading economic indicators suggest U.S.
corporate earnings growth will be stronger than expected," he
said.
Elsewhere, South Korea's Kospi was down 1.4%. Hyundai Motor
shares slipped because of concerns that a planned strike would
disrupt production. A final decision on strike details is expected
at a union meeting scheduled Thursday.
Singapore's Strait Times finished flat at 3322.23.
David Roger contributed to this article.
Write to Chao Deng at Chao.Deng@wsj.com