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03.09.2014 09:37

Asian Stocks close: stocks closed higher as China’s services purchasing managers’ index rises

Asian stock indices closed higher as China's services purchasing managers' index rises. China's non-manufacturing purchasing managers' index (PMI) increased to 54.4 in August from 54.2 in July. The HSBC services PMI for China rose to 54.1 in August from 50.0 in July. That was the highest reading since March 2013.

Japanese stocks rose as Japan's Prime Minister Shinzo Abe appointed Yasuhisa Shiozaki as health minister. Yasuhisa Shiozaki should reform the Government Pension Investment Fund (GPIF).

Tensions between Russia and Ukraine eased as Russian President Vladimir Putin and Ukrainian President Petro Poroshenko agreed on a cease-fire.

China Mobile Ltd. shares rose 3.8% in Hong Kong after the company reported that it started taking preorders for iPhone 6.

Renesas Electronics Corp. shares jumped 17%.

Sony Corp. shares increased 2.7% due to the weaker yen.

Indexes on the close:

Nikkei 225 15,728.35 +59.75 +0.38%

Hang Seng 25,317.95 +568.93 +2.30%

Shanghai Composite 2,288.63 +22.58 +1.00%

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