Asian markets closed higher on the first trading of the week. The economic data released in China showed that the country’s manufacturing PMI is becoming stronger with the final reading of 50.1. This is a confirmation that cyclical improvements are taking place in the country and the export sector will also be improving further.
The Hang Seng index was the best performing index during the session which closed with a gain of 2.04%. The index is down nearly 1.42% for the past five days. The Nikkei index was the second best performer and closed with a gain of 1.38%. Finally, the Singapore index also closed in a positive territory and closed with a gain of 0.93%.
Railway stock was one of the best performer during the session and shares of China Railway construction Corp increased nearly by 3.4% and China Railway Group Ltd also soared nearly 0.5% during the session. China Shenhua Energy Co. and Sands China Ltd also gained nearly 5% and 4.3% respectively.
European stock markets are trading sharply higher during the early hours of trading. The DAX index is the best performing index during the session which is trading up with a gain of 1.69%. The index is down nearly 2.10% for the past five days. The CAC 40 index is the second best performer and is also trading up with a gain of 1.63%. The FTSE 100 and the IBEX are trading higher too with a gain of 1.48%, and 1.74% respectively.