Asia Stocks Dip On Dow Drop, China Data Cuts Loss

HONG KONG (AP) — Most Asian stock markets dipped on Friday following a big sell-off on Wall Street but losses were limited by optimistic reports on China's economy. Japan's benchmark Nikkei 225 index dropped 0.6 percent to 15,528.72 and Hong Kong's Hang Seng fell 0.5 percent to 24,623.81. Desmond Chua of CMC Markets in Singapore said Asian markets fell despite healthy China manufacturing figures as investors took profits following strong rallies by many benchmarks over the past week or two. While he expects a "slow and gradual climb" in Asian markets based on economic fundamentals, "we haven't seen a pullback in a long time and with valuations at such extensive levels I wouldn't be surprised if we get one in due time." Investors will get more clues about the state of the global economy with the release of a raft of economic reports later in the day, starting with manufacturing data for major eurozone economies. The forecast for the much scrutinized employment report is that U.S.

Topics:  hong kong ap     most asian   wall street   japan   nikkei   hong kong's hang seng   desmond chua   cmc markets   singapore   investors   u.s    july   asian   china   dip   drop   data   loss   percent   economic   fell   time   economy   manufacturing   reports   
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