Asian equity markets ended mostly higher on Thursday as oil prices rebounded, Italy's political turmoil eased and Chinese data topped forecasts. The Italian president, Sergio Mattarella, granted Italy's two populist leaders more time to form a government, helping ease worries that another election will essentially be a referendum on the country's membership of the European Union. Chinese shares posted strong gains as investors cheered upbeat manufacturing and non-manufacturing data. The manufacturing sector in China continued to expand in May, and at a faster rate, the National Statistics Bureau said with a manufacturing PMI score of 51.9. That exceeded forecasts for 51.4, which would have been unchanged from the April reading. The bureau also said that its non-manufacturing PMI came in with a score of 54.9. That also beat expectations for 54.8, which also would have been unchanged. Further, Japanese shares closed higher on bargain hunting as concerns about Italy's political turmoil receded.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,095.47 | 54.03 | 1.78 |
Hang Seng | 30,468.56 | 411.77 | 1.37 |
Jakarta Composite | 5,983.59 | -27.47 | -0.46 |
KLSE Composite | - | - | - |
Nikkei 225 | 22,201.82 | 183.30 | 0.83 |
Straits Times | 3,428.18 | -15.77 | -0.46 |
KOSPI Composite | 2,423.01 | 13.98 | 0.58 |
Taiwan Weighted | 10,874.96 | 53.79 | 0.50 |
