Investing.com - Asian stocks rose on Monday after official and private-sector Chinese manufacturing data revealed the Asian giant's economy may be picking up.
During Asian trading on Monday, Hong Kong's Hang Seng Index was up 0.17%, Australia's S&P/ASX200 was up 0.52%, while Japan’s Nikkei 225 Index was up 0.56%.
Stock prices rose across Asia on Monday on news China's factories are busier these days.
Official data in China released earlier revealed the country's manufacturing purchasing managers' index rose to an annual rate of 50.60 for November from 50.20 in the preceding month.
The data met expectations, though the number was strong enough to fuel hopes China will stick with a 7.5% gross domestic product growth target for 2013.
Meanwhile, China's official service-sector purchasing managers' index hit 55.6 in November from 55.5 in October.
Separately, HSBC's final purchasing managers' index for China hit 50.5 in November, beating analysts calls for a 50.4 final reading for the month.
Australian stocks rose on building expectations for the Reserve Bank of Australia this week to cut benchmark interest rates to 3.00% from their current levels of 3.25%.
Gross operating profits at Australian companies dropped more than expected in the third quarter, official data showed on Monday, fueling talk of central bank intervention.
In a report, the Australian Bureau of Statistics said that Australian Company Gross Operating Profits fell 2.9% in the third quarter after contracting 0.3% in the preceding quarter, whose figure was revised up from a contraction of 0.7%.
Analysts had expected Australian CGOP to contract by 2.5% in the last quarter.
Australian retail sales disappointed as well.
In a report, the Australian Bureau of Statistics said that Australian retail sales remained unchanged in October after gaining 0.5% in September.
Analysts had expected Australian retail sales to rise 0.4% in October.
In Europe, hopes the debt crisis may be easing boosted spirits as well.
E.U. and I.M.F. officials recently hammered out a plan for Greece to reduce its debt to 124% of gross domestic product by 2020 in exchange for fresh aid payments.
Germany's parliament on Friday gave the accord the green light, and German Chancellor Angela Merkel told the Bild am Sonntag newspaper afterwards the country would be willing to consider writing off Greek debt if Athens can rely on its own revenue and cease borrowing.
In Hong Kong, top gainers included Wharf Holdings, up 2.73%, HK & China Gas, up 1.43%, and Power Assets, up 1.32%.
In Australia, top gainers included Imdex, up 7.69%, Linc Energy, up 5.80%, and St. Barbara Ltd., up 4.59%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.30%, while Germany's DAX 30 futures pointed to a gain of 0.25%. Meanwhile in the U.K., FTSE 100 futures were up 0.10%.
Dow Jones Industrial Average futures were up 0.29%, while the S&P 500 futures were up 0.26%.
Later Monday, Bank of Japan Governor Masaaki Shirakawa is to speak at an event in Paris; his comments will be closely watched for any indications on the future possible direction of monetary policy.
Later Monday, the Institute of Supply Management is to produce a report on manufacturing growth in the U.S.
During Asian trading on Monday, Hong Kong's Hang Seng Index was up 0.17%, Australia's S&P/ASX200 was up 0.52%, while Japan’s Nikkei 225 Index was up 0.56%.
Stock prices rose across Asia on Monday on news China's factories are busier these days.
Official data in China released earlier revealed the country's manufacturing purchasing managers' index rose to an annual rate of 50.60 for November from 50.20 in the preceding month.
The data met expectations, though the number was strong enough to fuel hopes China will stick with a 7.5% gross domestic product growth target for 2013.
Meanwhile, China's official service-sector purchasing managers' index hit 55.6 in November from 55.5 in October.
Separately, HSBC's final purchasing managers' index for China hit 50.5 in November, beating analysts calls for a 50.4 final reading for the month.
Australian stocks rose on building expectations for the Reserve Bank of Australia this week to cut benchmark interest rates to 3.00% from their current levels of 3.25%.
Gross operating profits at Australian companies dropped more than expected in the third quarter, official data showed on Monday, fueling talk of central bank intervention.
In a report, the Australian Bureau of Statistics said that Australian Company Gross Operating Profits fell 2.9% in the third quarter after contracting 0.3% in the preceding quarter, whose figure was revised up from a contraction of 0.7%.
Analysts had expected Australian CGOP to contract by 2.5% in the last quarter.
Australian retail sales disappointed as well.
In a report, the Australian Bureau of Statistics said that Australian retail sales remained unchanged in October after gaining 0.5% in September.
Analysts had expected Australian retail sales to rise 0.4% in October.
In Europe, hopes the debt crisis may be easing boosted spirits as well.
E.U. and I.M.F. officials recently hammered out a plan for Greece to reduce its debt to 124% of gross domestic product by 2020 in exchange for fresh aid payments.
Germany's parliament on Friday gave the accord the green light, and German Chancellor Angela Merkel told the Bild am Sonntag newspaper afterwards the country would be willing to consider writing off Greek debt if Athens can rely on its own revenue and cease borrowing.
In Hong Kong, top gainers included Wharf Holdings, up 2.73%, HK & China Gas, up 1.43%, and Power Assets, up 1.32%.
In Australia, top gainers included Imdex, up 7.69%, Linc Energy, up 5.80%, and St. Barbara Ltd., up 4.59%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.30%, while Germany's DAX 30 futures pointed to a gain of 0.25%. Meanwhile in the U.K., FTSE 100 futures were up 0.10%.
Dow Jones Industrial Average futures were up 0.29%, while the S&P 500 futures were up 0.26%.
Later Monday, Bank of Japan Governor Masaaki Shirakawa is to speak at an event in Paris; his comments will be closely watched for any indications on the future possible direction of monetary policy.
Later Monday, the Institute of Supply Management is to produce a report on manufacturing growth in the U.S.