Asia-Pacific stocks rise; private survey on Chinese services activity in May ahead
Shares in Asia-Pacific rose in Thursday morning trade, ahead of data releases in Australia and China.
In Japan, the Nikkei 225 gained 0.23% while the Topix index advanced 0.38%. South Korea’s Kospi edged 0.33% higher.
Shares in Australia also rose, with the S&P/ASX 200 climbing 0.15%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded about 0.1% higher.
On the economic data front, Australia’s retail sales data for April is expected at 9:30 a.m. HK/SIN on Thursday.
Looking ahead, a private survey on China’s services activity for May is set to be out on Thursday, with the Caixin/Markit services Purchasing Managers’ Index expected at 9:45 a.m. HK/SIN on Thursday.
· European stocks close mostly higher amid recovery hopes, inflation fears
Stock markets in Europe closed mostly higher on Wednesday as investors weighed up optimism over the region’s economic recovery and fears over rising inflation.
The pan-European Stoxx 600 ended the session up almost 0.3%, with autos shares rising 1.3% to lead gains as most sectors and major bourses closed in positive territory.
Investors in the U.S. and Europe are looking ahead to key U.S. jobs data later this week and upcoming meetings of the Federal Reserve and the European Central Bank.
Markets were given a boost on Tuesday by strong manufacturing activity data out of the U.K. and the euro zone, while concerns over inflation continue to temper optimism.
Reference: CNBC
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