The MSCI Asia Pacific Index gained 0.2 percent to 142.80 as of 9:01 a.m. in Tokyo, before markets open in Hong Kong and China. The final reading of a China factory measure for May from HSBC Holdings Plc and Markit Economics will be released today after a government index signaled the fastest growth in five months. The Asia-Pacific equity gauge posted its largest advance in nine months in May as the yen weakened and speculation mounted that Chinese authorities will step in to boost economic growth.
Japan��s Topix index advanced 0.9 percent and South Korea��s Kospi index rose 0.3 percent. Australia��s S&P/ASX 200 Index gained 0.1 percent ahead of a Reserve Bank meeting at which economists forecast the central bank will keep rates on hold. New Zealand��s NZX 50 Index was little changed.
A preliminary reading of HSBC��s China manufacturing purchasing managers�� index came in at 49.7 for May. While that was the highest reading this year, levels below 50 still signal contraction in the sector.
Source : Bloomberg