Asian stocks regain poise at the start of 2017

The Asian stocks opened a brand New Year on a flattish note, as a couple of Asian markets still remain closed in observance of observed New Year’s holidays.

Despite a muted start to 2017, most major Asian indices regained ground and climbed sharply higher after the sentiment was lifted by solid Chinese manufacturing PMI numbers, which revealed that China’s manufacturing sector activity improved dramatically in December to  reach a four-year high.

Moreover, the Asian equities tracked strong gains seen on its European counterparts, after the European stocks hit their highest levels in more-than one year following yesterday’s bullish Eurozone PMI data.

The Australian benchmark, ASX 200 index rallies +1.14% to 5,733 points. Mainland Chinese markets also followed suit, with the Shanghai composite up +0.84% while the Shenzhen composite gains +0.1.04%. Hong Kong's Hang Seng rise +0.28%.