Investing.com – Asian stocks advanced on Wednesday, as better-than-expected data from Australia and China helped lift market sentiment and eased fears over the global economic recovery.
Hong Kong's Hang Seng Index was up 0.66%; South Korea's Kospi Composite gained 1.26%; and Japan’s Nikkei 225 Index advanced 1.17%.
Earlier in the day, official data showed that manufacturing activity in China increased more-than-expected in August, after falling sharply in July.
In Japan, the strong yen continued to hinder the share price of many big name Japanese exporters, as electronics manufacturer Toshiba tumbled 2.03%, stocks in Sharp Corp. fell 0.87% and Mitsubishi Motors shed 0.93%.
Meanwhile, Australia’s S&P/ASX 200 Index soared 2.08% after official data showed that the country's gross domestic product increased more-than-expected in the second quarter, growing at its fastest pace in 3 years.
In the commodity sector, crude oil prices advanced 0.63% to hit USD 72.15 a barrel.
The outlook for European equity markets, meanwhile, was upbeat: EURO STOXX 50 futures indicated a gain of 0.80%, France’s CAC 40 futures pointed to a rise of 0.50% and Germany's DAX futures indicated an increase of 0.24%.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official government data on manufacturing activity.
Hong Kong's Hang Seng Index was up 0.66%; South Korea's Kospi Composite gained 1.26%; and Japan’s Nikkei 225 Index advanced 1.17%.
Earlier in the day, official data showed that manufacturing activity in China increased more-than-expected in August, after falling sharply in July.
In Japan, the strong yen continued to hinder the share price of many big name Japanese exporters, as electronics manufacturer Toshiba tumbled 2.03%, stocks in Sharp Corp. fell 0.87% and Mitsubishi Motors shed 0.93%.
Meanwhile, Australia’s S&P/ASX 200 Index soared 2.08% after official data showed that the country's gross domestic product increased more-than-expected in the second quarter, growing at its fastest pace in 3 years.
In the commodity sector, crude oil prices advanced 0.63% to hit USD 72.15 a barrel.
The outlook for European equity markets, meanwhile, was upbeat: EURO STOXX 50 futures indicated a gain of 0.80%, France’s CAC 40 futures pointed to a rise of 0.50% and Germany's DAX futures indicated an increase of 0.24%.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official government data on manufacturing activity.