Asian stocks rise even as China's manufacturing slows

Asian stocks have started the week higher, even as China reported a slowdown in manufacturing activity and countries in the region continue to be hammered by the delta variant

SINGAPORE -- Asian stocks started the week higher Monday, even as China reported a slowdown in manufacturing activity and countries in the region continued to be hammered by the delta variant. Tokyo’s Nikkei 225 jumped 1.7% to 27,742.28, while the Kospi in Seoul rose 0.1% to 3,205.43. The Hang Seng in Hong Kong advanced 0.9% to 26,189.44 after being in the red for much of the morning. The Shanghai Composite index added 0.7% to 3,422.64, while Australia’s S&P/ASX 200 was up 1.5% at 7,501.20. The benchmark in Malaysia rose while those in Singapore and Indonesia fell. The gains in China follow data released Saturday by the National Bureau of Statistics showing the country's official purchasing managers' index fell to 50.4 in July from 50.9 in June. Numbers above 50 indicate expansion on the 100-point scale.