Asia stocks broadly higher; Nikkei jumps 1.2%

Investing.com – Asian stock markets were broadly higher on Thursday, advancing for the sixth consecutive day, after upbeat manufacturing data from the U.S. and China eased concerns over a slowdown in the world’s two biggest economies.
  
During late Asian trade, Hong Kong's Hang Seng Index jumped 1.2%, Australia’s ASX/200 Index rose 0.15%, while Japan’s Nikkei 225 Index rose 1.18%. 

Official data released earlier showed that China's purchasing managers' index rebounded from a 28-month low in August, climbing to 50.9 from 50.7. A reading above 50.0 indicates growing activity.

The report came after U.S. government data on Wednesday showed that orders for manufactured goods increased 2.4% in July, above expectations for a 1.9% gain.

Shares in Japanese exporters and machinery makers advanced, boosted by the outlook for export earnings.

Semiconductor manufacturer Elpida Memory saw shares climb 3%, construction-machinery firm Fanuc saw shares jump 2.75%, while mining equipment maker Komatsu saw shares rally 4.15% after JP Morgan recommended buying the stock.

Consumer electronics giant Sony saw shares gain 2% after the Japanese government announced it would invest JPY200 billion into a major new small-flat-screen joint venture linking the company with Toshiba and Hitachi. Toshiba shares rose 0.9%, while Hitachi shares added 1%. 

Meanwhile, in Hong Kong, shares in the financial sector advanced, amid easing concerns over further monetary tightening in China.

China Construction Bank saw shares gain 1.75%, shares in Bank of China Hong Kong advanced 1.3%, while China’s largest lender Industrial and Commercial Bank of China added 1.95%.

In Australia, retailers performed strongly after official data showed that retail sales rose 0.5% in June, beating expectations for a 0.3% gain.

Shares in department store chain David Jones jumped 2%, while James Hardie Industries saw shares rally 4.05%. 

Elsewhere, the outlook for European stock markets was mixed. The EURO STOXX 50 futures pointed to a gain of 0.45%, France’s CAC 40 futures rose 0.25%, the FTSE 100 futures edged 0.2% higher, while Germany's DAX futures indicated a modest decline of 0.1%.

Later in the day, the U.S. was to publish its closely watched weekly report on initial jobless claims, while the U.S. Institute of Supply Management was to produce data on manufacturing growth.