India's manufacturing sector bounces back from July's contraction

Dollar up in Asia with China manufacturing top data bill

The Caixin China manufacturing PMI for August came in at the six-month high of 51.6, topping a Reuters analyst poll. Readings above 50 indicate expansion, while anything below 50 indicates contraction.

Further, data showed that business optimism improved to a three-month high driven by rising demand, new product launches, efforts to improve market share, stronger global economy and planned investment spending. Demand from overseas also lagged, with new export orders slipping to 50.9 from 52.7.

China's factory activity gathered steam in August, official data showed on Thursday, beating expectations, but not dispelling concerns about the headwinds facing the world's second largest economy.

Furthermore, the rate of growth was little changed from July's five-month high.

The data, which showed broad-based expansion across all product categories, suggest continuing healthy United Kingdom economic growth and lifted the British Pound, although it quickly lost some of its gains as traders waited for the U.S. non-farm payrolls data.

Unrest feared after Kenya election ordered to be rerun
The litigation and debate on the merits of the election was done at the Supreme Court and not on the streets. In Burma, Elgeyo Marakwet Senator Kipchumba Murkomen delivered a veiled threat on the Supreme Court.

Sterling - which is around 13% lower than its pre-referendum level against the dollar - has been a key driver of the resurgence in the United Kingdom manufacturing sector since last June, and that remained the case in August, IHS Markit said.

China posted stronger-than-expected economic growth of 6.9 percent in the first half, fueled by a year-long construction boom, resurgent exports and robust retail sales. Over half of companies expect output to be even higher in a year's time, compared to less than 7% that forecast a decline.

The survey comes out just one day after it was revealed that India's economic growth slipped to a three-year low of 5.7 per cent in April-June as disruptions caused by demonetisation spilled over to the third straight quarter amid a slowdown in manufacturing activities.

On the price front, input price remained solid, despite easing from July.

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