Investing.com - Asian stock markets rose in holiday-thinned trade on Monday, as investors cheered an upbeat report on China’s manufacturing sector.
During late Asian trade, Australia’s S&P/ASX 200 closed 0.47% higher, while Japan’s Nikkei 225 ended up 2.07%. Markets in China, Hong Kong and Taiwan remained closed for the Dragon Boat Festival.
Data released over the weekend showed that China’s official manufacturing purchasing managers’ index rose to a five-month high of 50.8 in May, above expectations for 50.6 and up from 50.4 in April.
In Tokyo, the Nikkei rallied to the highest level since April 4 as a weaker yen lifted sentiment. The yen rose to a session high of ¥102.07 against the U.S. dollar, compared to Friday’s close of ¥101.72 (USD/JPY).
Index heavyweights Fast Retailing (TOKYO:9983) and Softbank (TOKYO:9984) saw shares climb 2.7% and 1.9% respectively.
Elsewhere, in Australia, the ASX/200 Index edged higher, while the Australian dollar dropped from a two-week high struck against the greenback on Friday.
The Aussie (AUD/USD) weakened to 92.51 U.S. cents from a high of 93.28 U.S. cents in the prior session.
Financials were stronger, with Commonwealth Bank Of Australia (ASX:CBA) advancing 0.8%, while ANZ Banking Group (ASX:ANZ) and National Australia Bank (ASX:NAB) rose 0.7% and 1.2% respectively.
Looking ahead, European stock market futures pointed to a modestly higher open, as investors looked ahead to the European Central Bank's policy meeting later this week.
The Euro Stoxx 50 futures pointed to a gain of 0.25%, France’s CAC 40 indicated a rise of 0.1%, Germany's DAX pointed to a gain of 0.3%, while London’s FTSE 100 indicated an increase of 0.3%.
Across the Atlantic, U.S. equity markets also pointed to a firm open. The Dow futures pointed to a gain of 0.15%, the S&P 500 added 0.1%, while the Nasdaq 100 indicated a rise of 0.1%.
The Institute of Supply Management is to publish a report on U.S. manufacturing activity later in the day.
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