Japanese stocks climbed on Tuesday, helped by a weaker yen, while shares in Hong Kong were higher as investors digested two separate readings on China’s manufacturing sector.
The Nikkei was up 0.8% at 15047.84, trading above the 15000 mark for the first time since early April. The index was boosted by the strength of the dollar, which rose 0.6% against the yen on Monday—its largest daily percentage gain since late March. A weaker yen is considered beneficial to Japanese exporters. Tuesday the yen was last little moved at ¥102.37 to the dollar.
“The relative resilience of U.S. stocks, as well as a stronger dollar, are a simple formula for Japan share buying,” said Yutaka Miura, senior technical analyst at Mizuho Securities.
In Hong Kong, trading resumed after a holiday Monday, with the Hang Seng Index adding 0.5% after the final reading of HSBC’s manufacturing PMI came in at 49.4, slightly lower than a preliminary reading of 49.7. A score above 50 indicates an expansion in manufacturing activity, while a score below that level points to a contraction.
The data caused the Hang Seng to pare earlier gains of as much as 1.1%. In early trading, investors reacted to China’s official manufacturing purchasing managers index, released over the weekend, which rose to 50.8 in May compared with 50.4 in April, a further sign of stability in the world’s second largest economy. In mainland China, the Shanghai Composite was up 0.5%.
Elsewhere in the region stocks were little moved, shrugging off a small rise on Wall Street Monday.
Australia’s S&P/ASX 200 was down 0.1%, South Korea’s Kospi was flat and Singapore’s Straits Times Index was also less than 0.1% lower.
At the end of the week, the focus will be on the U.S., which will release its monthly labor report on Friday. The U.S. is expected to have added 210,000 jobs last month, according to a survey by The Wall Street Journal of economists.
–Bradford Frischkorn contributed to this article.
Write to Daniel Inman at daniel.inman@wsj.com
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