Asia stocks rise on upbeat regional data; Nikkei gains 0.51%

Investing.com – Asian stocks were broadly higher on Wednesday, as upbeat Chinese manufacturing data boosted markets, while many of the big name Japanese exporters advanced. 

During late Asian trade, Hong Kong's Hang Seng Index jumped 1.50%, South Korea's Kospi Composite surged 1.30%, while Japan’s Nikkei 225 Index gained 0.51%.

Earlier in the day, official Chinese data showed that manufacturing output rose more-than-expected in November, expanding at the fastest pace in seven months.

Meanwhile, in Hong Kong, shares in the commodity sector led gains as crude oil and metal prices advanced.

Shares in China’s largest oil and gas company PetroChina gained 1.34%, rivals China Shenhua Energy saw shares jump 1.47%, while shares in Yanzhou Coal Mining surged 1.86%. 

Elsewhere, the Nikkei ended higher as shares in major Japanese exporters advanced after U.S. data showed that U.S. consumer confidence increased more-than-expected in November, rising to a 5-month high.

Shares in the world’s largest automaker Toyota jumped 2.80%, rivals Honda, which gets approximately 40% of its sales in North America, saw shares rally 2.33, while Japan’s largest manufacturer of industrial robots Fanuc saw shares rise 1.75%.  

But shares in Japan’s biggest glass maker Nippon Electric Glass tumbled 3.15% after the stock was downgraded by Goldman Sachs, while rivals Asahi Glass saw shares plunge 3.00%.

The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.53%, France’s CAC 40 futures indicated an increase of 0.57%, the FTSE 100 futures pointed to a gain of 0.55% and Germany's DAX futures were up 0.74%.

Later in the day, the U.S. was to release key data on ADP non-farm employment change, while the Federal Reserve was to publish its Beige Book.