Asian Equities Gaining On Improved US Manufacturing PMI

Asian stocks rose, with the regional benchmark index rebounding from its biggest drop in two weeks, after a larger-than-forecast climb in a measure of U.S. manufacturing tempered concern about global growth.

The MSCI Asia Pacific Index gained 0.9 percent to 137.03 as of 9:20 a.m. in Tokyo, before markets open in Hong Kong and China. The gauge sank 1.3 percent yesterday as a preliminary reading for a China purchasing managers’ index unexpectedly fell to a seven-month low. A U.S. manufacturing index jumped more than expected, a separate report showed yesterday.

Japan’s Topix index today rose 1.7 percent. Minutes from the Bank of Japan’s Jan. 22 policy meeting showed some board members said the central bank should provide a clearer explanation that an expected decline in second-quarter domestic growth was factored into its outlook.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu