Asian Market Update : Epic Research Malaysia

Asian markets rose Thursday as an index of Chinese manufacturing activity hit an 18-month high in July, boosting hopes for the world's number two economy, as concerns over the Ukraine crisis eased.

The euro avoided any further losses after a recent sell-off saw it hit and eight-month low against the dollar while it made inroads against the yen.

Shanghai jumped 0.84 per cent and Hong Kong climbed 0.42 per cent, its third straight gain, while Tokyo rose 0.11 per cent by the break, Sydney added 0.20 per cent and Seoul was up 0.25 per cent.

Banking giant HSBC said its preliminary purchasing managers index of manufacturing activity for this month jumped to 52.0 from a final reading of 50.7 in June.

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