Asian stocks mixed after economic data

SEOUL, Muharram 24, 1438, October 25, 2016, SPA — Asian stocks were mixed on Tuesday in moderate trading as upbeat reports on manufacturing in the U.S. and Europe were followed by weak growth data from South Korea, Asia’s fourth-largest economy,AP reported.
Japan’s Nikkei 225 rose 0.8 percent to 17,365.25 while South Korea’s Kospi fell 0.5 percent to 2,037.17. Hong Kong’s Hang Seng index dipped 0.1 percent to 23,580.50 and the Shanghai Composite index was flat at 3,128.73. Australia’s S&P/ASX 200 gained 0.6 percent to 5,442.80. Markets in Southeast Asia were mixed.
The Bank of Korea said South Korea’s third-quarter growth slowed to its lowest level in more than a year, expanding 2.7 percent over a year earlier. Manufacturing saw its largest decline in more than five years thanks to Samsung’s Galaxy Note 7 recalls and a strike at Hyundai Motors. “Korea’s economy lost momentum in the third quarter of 2016, and we expect growth will struggle in the coming quarters due to a combination of rising domestic headwinds and subdued global demand,” Krystal Tan of Capital Economics said in a commentary.
Benchmark U.S. crude added 7 cents to $50.59 per barrel in New York. The contract closed 33 cents lower at $50.52 a barrel on Monday. Brent crude, the international standard, fell 6 cents to $51.39 a barrel in London.
The dollar rose to 104.46 yen from 104.30 yen. The euro was flat at $1.0875.
–SPA
12:32 LOCAL TIME 09:32 GMT