Stocks in china were mixed after release of Caixin PMI Data from China which revealed that the numbers were at an 11-month low.
China's factory activity contracted for the first time in 11 months, a private survey showed on Thursday, as output and new orders slowed and companies shed jobs.
The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) fell to 49.6 in May, lower than a 50.1 forecast by analysts and lower than April's 50.3.
A reading above 50.0 indicates expansion in manufacturing and a reading below those level points to a contraction in activity.
Japan’s benchmark NIKKEI 225 jumped 1.07% to close at 19,860.03 points. Meanwhile Kospi reversed earlier gains to trade lower. The Kospi ended the session down by 0.12 percent at 2,344.61.
The S&P/ASX 200 finished the session up 0.24 percent or 13.528 points at 5,738.1.
Markets in greater China were mixed. The Hang Seng Index was higher by 0.49 percent at 3:05 p.m. HK/SIN. The Shanghai Composite closed lower by 0.5 percent or 15.4795 points at 3,101.6983 while the Shenzhen Composite fell 1.919 percent or 34.6956 points to finish the session at 1,773.6063.
This followed the release of Caixin manufacturing PMI figures for China in the month of May. The data showed factory activity fell to an 11 month low, coming in at 49.6 compared to the 50.1 forecast.
The market is waiting to receive a range of updates from the major economies around the world. The events expected to impact the market include UK’s June 8th elections, key central bank meetings from the European Central Bank also on June 8 and Federal Reserve meeting on June 14th.
Meanwhile in South Asia, annual economic growth figures in India for the quarter ended March, slowed down and were at 6.1 percent. Industry had expected a dent in growth rate because of effects of demonetization.
Key U.S. economic data is expected after Asian trading close, which includes ADP employment report, ISM manufacturing PMI and auto sales for the month of May due to be released later in the day.