· Asia stocks up as China PMI, U.S. data cheer markets worried over coronavirus surge
Asian shares rose on Tuesday after data showed China's manufacturing sector grew more than expected in June, a hopeful sign for a global economy still struggling to recover from the sweeping impact of the coronavirus crisis.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.9%, while U.S. stock futures, the S&P 500 e-minis, advanced 0.23%.
Sentiment in the region, which got a boost from overnight gains on Wall Street thanks to strong housing data, got a further lift from a survey in China showing a quickening in activity in its vast factory sector.
Overall, however, Asian shares are still on course for a 7% decline over the first half of this year, underscoring the severity of the pandemic-sparked losses and the challenges facing investors as global infections continue to rise in a blow to hopes of a quick recovery.
· Tokyo stocks gain as robust U.S., China data hearten investors
Tokyo stocks rose sharply Tuesday, with the Nikkei briefly jumping over 400 points, as the market was heartened by stronger-than-expected U.S. and Chinese economic data, easing concerns over the health of the global economy amid the coronavirus pandemic.
The 225-issue Nikkei Stock Average ended up 293.10 points, or 1.33 percent, from Monday at 22,288.14. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 9.55 points, or 0.62percent, higher at 1,558.77.
Gainers were led by iron and steel, air transportation and real estate issues.
· China stocks end higher as upbeat data boosts recovery hopes
Chinese shares ended higher on Tuesday, led by gains in technology stocks, as upbeat U.S. and China data renewed global economic recovery hopes.
At the close, the Shanghai Composite index was up 0.78 per cent at 2,984.67, while the blue-chip CSI300 index was up 1.32 per cent.
· European markets open mixed on positive economic data, coronavirus concerns
European stocks made a mixed start on Tuesday morning with investors likely to be buoyed by a further sign of an economic recovery in China.
The pan-European Stoxx 600 hovered around the flatline in early trade, with technology stocks adding 0.7% to lead gains while media and oil and gas stocks fell 0.5%.
European markets look set to follow the positive trend set by markets in Asia Pacific, which rose Tuesday afternoon as China’s official manufacturing Purchasing Manager’s Index for June came in above expectations.
Reference: CNBC, Reuters
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