Asian Stocks Mostly Higher Ahead Of HSBC Chinese PMI

Asian stocks rose, with the regional benchmark index paring last week’s losses, as Japanese markets reopened ahead of a private gauge of factory production in China.

Japan’s Topix (TPX) index gained 1.2 percent after a three-day weekend. Macquarie Group Ltd. gained 3.6 percent as Australia’s biggest investment bank said it expects full-year earnings to rise as much as 45 percent. Yamato Holdings Co., a parcel delivery company, surged 4.9 percent in Tokyo on a report it will form a tie with China Post Group.

The MSCI Asia Pacific Index rose 0.5 percent to 133.43 as of 9:22 a.m. in Tokyo after declining 1.2 percent last week. The MSCI Asia Pacific excluding Japan Index gained 0.1 percent.

A China purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics is projected to signal a third straight month of contraction in the manufacturing sector.


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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