Asian equities were mostly higher on Wednesday, with Japan’s benchmark index ending at a new seven-year peak. A record finish on Wall Street overnight boosted sentiment in the region. The Dow Jones Industrial Average rose to a record finish on Tuesday after data showed November auto sales clocked its best month since 2003.
Higher oil prices also contributed to gains. U.S. oil and Brent crude both rebounded nearly $1 in Asian trade in what has been an extremely volatile week for oil markets. Investors also digested data showing Beijing’s official non-manufacturing PMI figure rising to 53.9 in November, a touch higher than a nine-month low of 53.8 in October.
Attention now turns to a raft of U.S. data later on Wednesday ahead of Friday’s closely-watched non-farm payrolls data, including the ADP report on private payrolls, the ISM non-manufacturing survey as well as the Federal Reserve’s beige book report on the economy.