Asian Stocks Market august 23 2011, Gold prices rises

Asian Stocks Market august 23 2011, Gold prices rises : Asian shares rose on Tuesday after modest gains on Wall Street, but remained deep in negative territory for the month, while gold hit another record above $1,910 an ounce as investors continued to fret about the health of the global economy.

Markets took heart from HSBC's China flash purchasing managers' index (PMI), which, although showing China's factory sector was likely to slow slightly for a second consecutive month in August, indicated the world's number two economy was still growing robustly.

"It suggests there's still plenty going on and it's business as usual," said Martin Angel, a dealer at Patersons Securities in Australia.

The euro remained under pressure as traders awaited flash PMI data for Germany, France and the euro zone, with a weak number likely to exacerbate fears about the region.

Japan's Nikkei share average .N225 rose 0.7 percent on Tuesday, while MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS gained 1.5 percent. .T

The MSCI index is down around 14 percent for the month, and about 19 percent below its April high. A decline of 20 percent or more is the rule-of-thumb definition of a bear market.

Spot gold soared to the latest in a succession of all-time highs above $1,910 an ounce and was on course for its biggest monthly rise in 29 years.
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