Asian stocks mostly boosted by strong China data

HONG KONG: Asian shares mostly rallied on Monday after strong manufacturing data indicated a slowdown in China may be coming to an end, while the dollar climbed back towards the 100 yen mark.

Easing concerns about a possible military strike on Syria also lifted sentiment and reduced worries over crude supplies, sending prices lower.

In afternoon trade Hong Kong climbed 1.77 percent. Tokyo ended up 1.37 percent, or 184.06 points, at 13,572.92, while Sydney closed 1.03 percent, or 53.3 points, higher at 5,188.3.

However, Seoul was flat, edging down 1.55 points to 1,924.81, while Shanghai was also slightly lower in late trade.

Data Saturday showed China's official purchasing managers' index (PMI) of manufacturing hit 51.0 last month, up from 50.3 in July and the best reading since April last year. Anything above 50 indicates growth, while anything below signals contraction.

On Monday HSBC confirmed its own PMI came in at 50.1.

The results follow a slew of recent upbeat data that suggest a slowdown in the world's number two economy and key driver of global growth may have come to an end.