The MSCI Asia Pacific Index added 0.1 percent to 143.71 as of 9:01 a.m. in Tokyo, with material producers rising the most among the gauge��s 10 industry groups. The measure rallied 10 percent through yesterday from this year��s low in February amid signs of stronger manufacturing in China and as authorities there eased bank collateral rules, while U.S. data signaled a growth recovery is intact. Inflation in China quickened in May, according to economist estimates ahead of a report due today.
Japan��s Topix index climbed 0.1 percent and South Korea��s Kospi index jumped 0.5 percent. Australia��s S&P/ASX 200 Index rose 0.3 percent, while New Zealand��s NZX 50 Index slid 0.2 percent. Markets in China and Hong Kong have yet to open.
Data today will show consumer prices rose by 2.4 percent last month in China after expanding 1.8 percent in April, the least since October 2012, according to economists surveyed by Bloomberg. Producer prices probably fell 1.5 percent after slipping 2 percent in the previous month.
Source : Bloomberg