Asian equities rose on Monday as investors cheered upbeat Chinese economic data and another record close on Wall Street.
A flash reading of HSBC’s China purchasing managers’ index (PMI) rose to 50.8 in June, the first expansion in six months. The figure was well above May’s final reading of 49.4 and Reuters estimates for 49.7.
Friday’s session on Wall Street also lifted sentiment in the region. U.S. stocks rose for the sixth straight day, with the Dow Jones Industrial Average and the S&P 500 hitting record highs.
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