Asian shares mixed as dealers return from break

Asia's markets were mixed on Friday as dealers returned from the May Day break to healthy manufacturing data from the United States and China as well as an upbeat assessment of the US economy. Traders were keeping an eye on the release of jobs figures due out of Washington later in the day, while a recent batch of strong indicators helped the dollar edge up against the yen. Tokyo eased 0.19 per cent, after rallying 1.27% on Thursday. The Nikkei gave up 27.62 points to finish at 14,457.51, while Seoul slipped 0.12%, or 2.35 points, to 1,959.44. Sydney added 0.17%, or 9.3 points, to 5,458.1 and Hong Kong added 0.57%, or 126.70 points, to 22,260.67. Shanghai was closed for a public holiday. The US Federal Reserve on Wednesday said the world’s number one economy was picking up after a severe winter that saw growth slow to just 0.1% in the first quarter of the year. The central bank said that with the cold weather now behind it, the country would likely enjoy a recovery, adding that it would further reduce its stimulus programme by $10 billion a month to $45 billion. On Thursday China said its official measurement of manufacturing activity improved in April for a 2nd straight month. The official purchasing managers index (PMI) came in at 50.4, the National Bureau of Statistics said, up from 50.3 in March, according to AFP.