Asian stocks end with slight gains

The majority of Asian indices ended the day slightly higher within its attempts to correct after the sharp drop that was dominating in the past period, and influenced by the results of PMI manufacturing that came worse than expectations and the previous month data, which increases pressure on decision-makers to add more stimulus policies.

The MSCI Asia Pacific Index showed slowdown of economic growth in August to 51.1 from 51.7 which is worst than the expected 51.2, while the reading for HSBC manufacturing index also showed further slowdown to 50.2 from the previous and the expectations 50.3.

This news had a limited impact on the Chinese stocks, as the long-term outlook for the Chinese economy is still positive :

- Chinese CSI 300 ended 0.73%  higher at 17.03 pips and is trading around 2355.32.

- Shanghai Composite ended in green achieving 0.83% gains at 18.31 pips and is trading around 2235.51.

We notice today volatility in global equity markets with the absence of the United States celebrating Labor Day, causing a singificant drop in trading volumes, and Asian indices was supported by the European Union decision yesterday evening on Saturday to approve the imposition of further sanctions on Russia if tensions increased on the Ukrainian side.

- Australia’s S&P/ASX 200 ended 0.07% higher at 3.93 pips and is trading around 5629.83.

- Nikkei 225 ended 0.340% higher at 52.01 pips and is trading around 15476.60.

- Kospi closed 0.73% lower at 17.03 pips and is trading around 2067.86 affected by the economic data that showed a sharp drop in exports to -0.1% from the previous 5.7%.

Samsung Heavy Industries Co Ltd rose 6.24% closing around 28950.00, while Samsung Engineering rose 12% after the two companies announced today their decision to merge.

- Indian SENSEX 30 S&P BSE ended today 0.84% higher trading around 26862.62 supported by economy growth during the second quarter beating expectations on an annual level and at the fastest pace since the second quarter of 2012, a growth rate 5.7% higher than the same period last year by 4.6%.