Strong readings on China’s huge manufacturing sector offset the weak lead from Wall Street
A man walks past an electronic display showing Asian markets indices outside a brokerage in Tokyo. Picture: REUTERS
The Hang Seng index in Hong Kong traded 0.18% higher while the Shanghai Composite also recovered early losses to stand 0.1% higher. Japan’s Nikkei 225 erased early losses to trade flat. “September is also going to be a choppy recovery, and until we get closer to more news about a vaccine it’s going to remain that way.”
On Wall Street, the Dow Jones Industrial Average and the S&P 500 ended in the red overnight, while the Nasdaq rose solidly. The Nasdaq fared even better than the S&P for the month, up nearly 10% as it rallied for a fifth consecutive month. The expectation that the Fed will keep interest rates low for an extended period kept the dollar soft, marking a fourth consecutive month of declines in August, its longest losing streak since 2017.
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