Shares are mixed in Asia after China reported slower factory activity in June due to weaker consumer spending and export demand. Tokyo, Hong Kong and Seoul declined while Sydney, Shanghai and Bangkok advanced. On Thursday, most stocks ticked higher on Wall Street following the latest signs that the U.S. economy remains stronger than feared. The S&P 500 rose 0.4% Thursday and is on track for its sixth winning week in the last seven. The Dow gained 269 points, or 0.8%, and the Nasdaq composite edged down by less than 0.1%. Fewer American workers applied for unemployment benefits last week. Such data suggest the economy is still robust but they may bring still higher interest rates.
