Asian Equities Higher Before China PMI Due Shortly

Asian equity markets rose in cautious trade on Thursday as the region’s earnings season got under way and ahead of key manufacturing data from China.

The HSBC Purchasing Managers’ Index preliminary reading of Chinese factory activity for July is due at 9:45am SIN/HK and is expected to show an improved figure of 51. That would be above the bank’s final June reading of 50.7 and in line with Beijing’s final official number in June.

On Wall Street, the S&P 500 rose to a new record, gaining 0.2 percent to 1,987, but the Dow was dragged lower by Boeing’s second quarter numbers. The aircraft maker’s profit soared 52 percent in the period but its tanker program incurred a $272 million charge.


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