Sept 30 (Reuters) – More evidence that China’s economy is rebounding lifted Asia’s emerging stock markets on Wednesday with Malaysia, the Philippines, Singapore and Taiwan all following Shanghai stocks around half a percent higher.
A holiday in South Korea and the start of a week-long break in China on Thursday kept trading subdued, with the action in the U.S. presidential debate late on Tuesday failing to stir much movement from investors globally.
Two surveys showed China’s factory activity, a bellwether for the region, still firmly in growth territory in September.
“The data continues to provide evidence of China’s economic resilience both in the manufacturing and services sector,” Mitul Kotecha, a senior emerging markets strategist at TD Securities, said.
“The strength of the trade components was encouraging, suggesting that exports and imports will continue to improve, which is also positive for the rest of Asia.”