China Stocks Rise Most in Month on CommoditiesJapans Topix index climbed after preliminary China manufacturing data beat estimates and Federal Reserve minutes showed policy makers see little risk continued stimulus will spur a jump in inflation.

Daikin Industries Ltd., an air-conditioner maker that gets 18 percent of sales from China, added 2.2 percent. Nissan Motor Co., a carmaker that generates 41 percent of its revenue in North America, added 1.7 percent. Sanrio Co., the creator of Hello Kitty toys, headed for its biggest drop since 1985 after a strategy briefing yesterday disappointed investors.

The Topix gained 1.2 percent to 1,163.77 at the break in Tokyo, poised for its largest advance since May 13. All but two of the gauges 33 industry groups climbed. The Nikkei 225 Stock Average increased 1.6 percent to 14,267.18.

A preliminary purchasing managers index from HSBC Holdings Plc and Markit Economics climbed to 49.7, exceeding the 48.3 median estimate of analysts surveyed by Bloomberg News and a final reading of 48.1 in April. Although better than expected, the reading below 50 signals a fifth month of contraction in factory activity.

 

Source : Bloomberg