Asian stocks advanced for the first time in three days as investors weighed the minutes of the Federal Reserve’s last meeting and awaited China manufacturing data.
The MSCI Asia Pacific Index rose 0.1 percent to 153.02 as of 9:02 a.m. in Tokyo. The Fed minutes reinforced the view that interest rates will probably be boosted in the second half of this year. China factory activity may show improvement this month, preliminary estimates from HSBC Holdings Plc and Markit Economics due today are expected to show, according to economists surveyed by Bloomberg.
Japan’s Topix index added 0.3 percent. South Korea’s Kospi index was little changed. Australia’s S&P/ASX 200 Index gained 0.2 percent, while New Zealand’s NZX 50 Index lost 0.2 percent. Markets in China and Hong Kong have yet to open.
China’s CSI 300 Index technology gauge on Wednesday jumped 1.5 percent to a record on a Xinhua News Agency report that the government will boost incentives for industries including information technology and robotics.
E-mini futures on the Standard & Poor’s 500 Index fell 0.2 percent. The underlying gauge lost 0.1 percent on Wednesday amid a selloff in airlines.