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Most Asian stock indices closed higher, following gains on U.S. markets. U.S. markets increased yesterday due to the better-than-expected economic data in the U.S. The U.S. preliminary manufacturing purchasing managers' index (PMI) rose to 58.0 in August from 55.8 in July, beating expectations for a decline to 55.7.
The Federal Reserve Bank of Philadelphia's manufacturing index climbed to 28.0 in August from 23.9 in July, beating expectations for a drop to 20.3.
The existing home sales in the U.S. rose 2.4% to 5.15 million units in July from 5.03 million units in June. Analysts had expected a decrease to 5.01 million units in July.
Market participants are awaiting that speech by Federal Reserve Chair Janet Yellen in Jackson Hole later in the day may reveal Fed's next monetary policy moves.
Indexes on the close:
Nikkei 225 15,539.19 -47.01 -0.30%
Hang Seng 25,112.23 +118.13 +0.47%
Shanghai Composite 2,240.81 +10.35 +0.46%
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