Asian stocks powered ahead thanks to positive manufacturing data out of China and optimism that a resolution to the trade spat is imminent, which bodes well for the local bourse
A pedestrian walks past an electronic stock board displaying the Nikkei 225 Stock Average figure outside a securities firm in Tokyo, Japan. Picture: TAKAAKI IWABU/BLOOMBERG
The unexpected increase in factory activity helped boost Asian stocks on Monday. The Shanghai composite index was 2.3% up, while Hong Kong’s Hang Seng index was 1.7% higher and Japan’s Nikkei 225 index was 1.5% stronger. Major indices in Korea, Singapore and Australia were also higher. On Monday, preliminary tax revenue figures are due to be released by the SA Revenue Service . Absa’s purchasing managers index is also due.On the JSE, Ayo Technology Solutions is due to report interim numbers.
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