Nikkei Leads Asian Equities Higher

The Nikkei led Asian shares higher on Tuesday, supported by solid U.S. and Chinese manufacturing data, while the euro dragged its feet near a 3 1/2-month low on expectations of fresh monetary easing by the European Central Bank.

Japan’s Nikkei hit a two-month high and last traded up 0.8 percent while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, nearing a one-year high hit last week.

Asian shares were bolstered by the U.S. Institute for Supply Management’s manufacturing activity index rising to 55.4 in May from 54.9 in April.  The data caused some confusion during U.S. trade because the ISM initially announced a far weaker 53.2 and took nearly three hours to issue a correction.

Reuters

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