Asia: Stocks rise despite slip in Chinese manufacturing data
Bourses in the Asia-Pacific region were mostly higher on Monday following the losses seen in the area during the previous month.
That came despite weaker than forecast readings on Chinese manufacturing and with US markets closed in observance of the Labor Day holiday.
The Shanghai composite stock exchange index advanced 0.83% to 2,235.51 points.
China's 'official' manufacturing sector purchasing managers' index (PMI) fell to the 51.1 point mark in August (consensus: 51.2) from a reading of 51.7 in the month before.
Capital Economics pointed out the weakness seen in the condition of small companies, in particular, as stricter regulations weighed on the issuance of bills and trust loans - on which firms of that size typically rely on for financing.
Policy-makers have taken measures to "ensure a gradual slowdown rather than a sharp drop off in growth" but have so far not gone as far with their stimulus measures as in the second quarter.
"As such we continue to expect a gradual slowdown in coming months," the think-tank added.
To take note of, over the weekend Hong Kong and Shanghai-based brokerages carried out the first full trial of a link between both cities' bourses.
Stock in Dongfeng Motor gained after the Chinese partner of PSA Peugeot unveiled a rise in first half net income to reach $1.39bn.
Japan's Nikkei-225 gained 0.34% to reach the 15,476.60 point mark. The dollar/yen edged forward, advancing 0.34% to reach 104.4.
New Zealand's and Singapore's benchmarks were amongst the few which registered falls, dropping 0.15% and 0.39% each, respectively.
AB