Asian Market Update : Epic Research Malaysia

Asian markets ended their recent rally Friday after the Dow posted its biggest single sell-off since February on weak eurozone data and as news of Argentina's debt default and a rise in US jobless claims shook the market.

Traders said there was no single catalyst for the dip, and also pointed to geopolitical concerns over the situation in Gaza and Ukraine as having an effect.

Tokyo was off 0.33 per cent by the break, Hong Kong fell 0.66 per cent, Sydney slumped 1.2 per cent, Shanghai edged down 0.08 per cent, and Seoul lost 0.20 per cent.

China's official purchasing managers index hit 51.7 last month, the government said Friday, up from 51.0 in June and its best showing since 53.3 in April of 2012 Australia, Japan, South Korea, Indonesia and India are also expected to release their PMI figures, which are a leading indicator of overall economic activity.

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