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Asian stock indices rose due to the better-than-expected manufacturing purchasing managers’ index (PMI) in China. The National Bureau of Statistics and China Federation of Logistics & Purchasing released yesterday the manufacturing purchasing managers’ index. China’s PMI increased to 50.8 in May, beating expectations of a rise to 50.7 from 50.4 in April. That was the fastest pace in five months.
Markets in China and Hong Kong were closed on Monday for a public holiday.
Indexes on the close:
Nikkei 225 14,935.92 +303.54 +2.07%
Hang Seng closed
Shanghai Composite closed
Dai-ichi Life Insurance Co. shares fell 5.0% after the company reported it want to buy Protective Life Corp. for more than 500 billion yen ($4.9 billion).
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