Economic news

Asian stocks recover on strong outlook for growth

Asian stocks rose slightly on Thursday, bouncing back from a three day sell-off earlier this week.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares ticked up 0.1 percent.

Japan’s Nikkei soared 1.3 percent from a four-week trough touched in the previous session. Hong Kong’s Hang Seng Index dropped 0.2 percent.

South Korea's Kospi index advanced 0.2 percent. Australia’s S&P/ASX 200 Index jumped 0.9 percent.

China's factory production hit a 13-month peak. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) was steady at 51.5 in January.

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