Asian stocks traded higher on Wednesday, as reports showed that manufacturing sectors for the world’s two biggest economies expanded and boosted US equity gauges to record-highs.
Japan
The Japanese benchmark Nikkei 225 index rose 0.29% higher, ending the session at 15,369.97 points, while Tokyo’s Topix index edged 0.37% higher to 1,280.78 points.
The Japanese retailer Ryohin Keikaku advanced 4.5% to 12,130 yen after the company reported revenue for the quarter through May climbed 21% to 66.7 billion yen from the previous year. The multinational equipment producer NEC gained 4.42%, while Suzuki Motor added 4.41%.
Sumco, a Japanese maker of silicon wafers, lost 3.9% to 929 yen after the company’s ratings was reduced from neutral at Nomura Holdings.
China
Hong Kong’s Hang Seng index added 1.08% to 23,441.91 points at the time of writing, while China’s benchmark Shanghai Composite fell 0.21% to 2,054.64 points.
China Overseas rose saw the most gains on the Hang Seng index, with shares rising 3.30% higher, while China Construction Bank slid 5.12% lower.
Manufacturing in China climbed in June, rising by the fastest pace this year, the government’s purchasing managers’ index showed on Tuesday.
On Monday, the Chinese government announced changes in the way loan-to- deposit ratios are devised to give banks more lending capacity. Last month, the central bank trimmed the amount of funds required to be held in reserve.
The South Korean benchmark Kospi index climbed 0.81% at 2,015.28 points at the time of writing.
Australia
In Sydney, the benchmark S&P/ASX 200 index rallied 1.33%, ending at 5,447.40 points.
Australia’s largest food manufacturer Goodman Fielder lost 3.3% to A$65.75 after Wilmar International and First Pacific reduced their offer to the company by approximately 3.6%.
Meanwhile Transfield Services saw the most gains during the session, climbing 5.98%, while mining company Lynas edged 3.57% lower.
Australia’s trade deficit widened to $1.91 billion in May from $780 million deficit recorded in the previous month as exports plunged by a seasonally-adjusted 5% and imports declined 1% on a monthly basis, according to the Australian Bureau of Statistics.
US Economy
The US equities market saw gains as the ISM Manufacturing Purchasing Managers’ Index (PMI) slightly picked up in June, coming in at 55.3 from the previous reading of 55.4 seen in May, while analysts expected a reading of 55.9.
Markit’s Manufacturing PMI fell to 57.3 in June, compared to analysts forecast of 57.5.
Futures on the Standard & Poor’s 500 Index were slightly changed on Tuesday as the measure and the Dow Jones Industrial Average both advanced to record-highs on Tuesday.
European Stocks
Stocks in the European region were seen mixed on Wednesday.
The European Euro Stoxx 50 slid 0.09%, starting the session at 3,255.66, while the German DAX gained 0.10% to 9,810.85. The French CAC 40 lost 0.18%, opening the session at 4,452.96, while UK’s benchmark FTSE 100 fell 0.07% to 6,798.01.
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Asian Stocks
Asian stocks traded higher on Wednesday, as reports showed that manufacturing sectors for the world’s two biggest economies expanded and boosted US equity gauges to record-highs.
Japan
The Japanese benchmark Nikkei 225 index rose 0.29% higher, ending the session at 15,369.97 points, while Tokyo’s Topix index edged 0.37% higher to 1,280.78 points.
The Japanese retailer Ryohin Keikaku advanced 4.5% to 12,130 yen after the company reported revenue for the quarter through May climbed 21% to 66.7 billion yen from the previous year. The multinational equipment producer NEC gained 4.42%, while Suzuki Motor added 4.41%.
Sumco, a Japanese maker of silicon wafers, lost 3.9% to 929 yen after the company’s ratings was reduced from neutral at Nomura Holdings.
China
Hong Kong’s Hang Seng index added 1.08% to 23,441.91 points at the time of writing, while China’s benchmark Shanghai Composite fell 0.21% to 2,054.64 points.
China Overseas rose saw the most gains on the Hang Seng index, with shares rising 3.30% higher, while China Construction Bank slid 5.12% lower.
Manufacturing in China climbed in June, rising by the fastest pace this year, the government’s purchasing managers’ index showed on Tuesday.
On Monday, the Chinese government announced changes in the way loan-to- deposit ratios are devised to give banks more lending capacity. Last month, the central bank trimmed the amount of funds required to be held in reserve.
The South Korean benchmark Kospi index climbed 0.81% at 2,015.28 points at the time of writing.
Australia
In Sydney, the benchmark S&P/ASX 200 index rallied 1.33%, ending at 5,447.40 points.
Australia’s largest food manufacturer Goodman Fielder lost 3.3% to A$65.75 after Wilmar International and First Pacific reduced their offer to the company by approximately 3.6%.
Meanwhile Transfield Services saw the most gains during the session, climbing 5.98%, while mining company Lynas edged 3.57% lower.
Australia’s trade deficit widened to $1.91 billion in May from $780 million deficit recorded in the previous month as exports plunged by a seasonally-adjusted 5% and imports declined 1% on a monthly basis, according to the Australian Bureau of Statistics.
US Economy
The US equities market saw gains as the ISM Manufacturing Purchasing Managers’ Index (PMI) slightly picked up in June, coming in at 55.3 from the previous reading of 55.4 seen in May, while analysts expected a reading of 55.9.
Markit’s Manufacturing PMI fell to 57.3 in June, compared to analysts forecast of 57.5.
Futures on the Standard & Poor’s 500 Index were slightly changed on Tuesday as the measure and the Dow Jones Industrial Average both advanced to record-highs on Tuesday.
European Stocks
Stocks in the European region were seen mixed on Wednesday.
The European Euro Stoxx 50 slid 0.09%, starting the session at 3,255.66, while the German DAX gained 0.10% to 9,810.85. The French CAC 40 lost 0.18%, opening the session at 4,452.96, while UK’s benchmark FTSE 100 fell 0.07% to 6,798.01.
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