Asian markets close the session in mixed positions due to weaker than expected China PMI

Major Asian indexes closed the session mixed as geopolitical tensions in the Korean Peninsula raged up in the past few days and markets are digesting the new report of China’s PMI.

Hong Kong’s Hang Seng index was up by .074 percent as markets in the mainland shrugged off the release of a PMI data that was slightly lower than expected. The Shanghai Composite was up by 0.58 percent while the Shenzhen gained 0.56 percent.

Japan’s Nikkei 225 edged down by 0.01 percent and South Korea’s Kospi was down by 0.36 percent.

Australia’s benchmark S&P/ASX 200 index managed to climb by 0.68 percent. It was boosted by the positive figures in its materials sub-index, which was also up by 1.95 percent.

Oil prices hit a two-month high due to the tighter U.S. inventories

Oil prices hit a two-month high in the first session of this week because of decreasing U.S. crude inventories and the threat of sanctions against the OPEC-member, Venezuela, by the United States.

U.S. Texas Intermediate crude futures were up by 16 cents or 0.3 percent and were sold at $49.87 per barrel – the highest price since June 30.

Brent crude futures (The international benchmark for oil prices) were sold at $52.67 per barrel after an increase of 15 cents or 0.3 percent. Prices reached $52.76 per barrel earlier throughout day – the highest level since May 25.

It is important to notice that Oil prices have risen by around 10 percent since the last meeting of OPEC and other major producers, including Russia.     

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