Asian stock markets were trading higher in the afternoon trade after China’s official manufacturing Purchasing Manager’s Index (PMI) for June came above expectations.
According to data released by the country’s National Bureau of Statistics (NBS), China’s official manufacturing PMI for June came in at 50.9. Also, Japan’s industrial production in May dropped 8.4% MoM.
The Nikkei 225 in Japan rose 1.758%, the Topix index added 1.26%, the Kospi gained 1.61%, the Shanghai Composite up around 0.83% while Hang Seng index advanced 0.89%
Meanwhile, US stocks ended on a buoyant note overnight with the S&P 500 gained 1.5% to 3,053.24, the Dow Jones Industrial Average rose 2.3% to 25,595.80 and the Nasdaq Composite added 1.2%, to 9,874.15.
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