Asia stocks down after China manufacturing falls
Bangkok, Sept 3 (AP/UNB) - Asian stock markets are mostly lower following data that showed a contraction in Chinese manufacturing for August.
An industry report said that China's purchasing managers index fell to 49.2 in August from July's 50.1 on a 100-point scale. Numbers below 50 show a contraction. It was the group's weakest reading to date.
That fueled doubts about whether China has started to recover from its deepest economic downturn since the 2008 global financial crisis.
Japan's Nikkei 225 index fell 0.4 percent to 8,807.40. Hong Kong's Hang Seng was marginally lower at 19,473.23. South Korea's Kospi was down nearly 0.1 percent to 1,904.02.
But shares in mainland China and Taiwan were higher. The two countries signed an agreement Friday to allow Taiwanese banks to handle China's currency.
An industry report said that China's purchasing managers index fell to 49.2 in August from July's 50.1 on a 100-point scale. Numbers below 50 show a contraction. It was the group's weakest reading to date.
That fueled doubts about whether China has started to recover from its deepest economic downturn since the 2008 global financial crisis.
Japan's Nikkei 225 index fell 0.4 percent to 8,807.40. Hong Kong's Hang Seng was marginally lower at 19,473.23. South Korea's Kospi was down nearly 0.1 percent to 1,904.02.
But shares in mainland China and Taiwan were higher. The two countries signed an agreement Friday to allow Taiwanese banks to handle China's currency.
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