Asian markets up after China manufacturing data announcement

Asian stock markets were up in the morning trade after China’s manufacturing activity was unchanged from the previous month in January. The official manufacturing Purchasing Managers’ Index (PMI) came in at 50, said China’s National Bureau of Statistics.  

The WHO to issue emergency epidemic for Coronavirus which could see US business gain from the unfortunate event as business relocate out of China.

Currently, Japanese stocks led gains among major markets in Asia, with the Nikkei 225 jumping 1.4%; the Topix index added 1.06%, Hong Kong’s Hang Seng index rose 0.79%, South Korea’s Kospi advanced 0.45% and the S&P/ASX 200 up 0.37%.

Overnight, the Dow Jones Industrial Average rose 124.99 points, or 0.43%, to 28,859.44. The S&P 500 gained 10.26 points, or 0.31%, to 3,283.66 and the Nasdaq Composite added 23.77 points, or 0.26%, to 9,298.93.

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