Encouraging China factory data helped lift Asian equities and commodities on Monday, with the Nikkei 225-stock average in Japan rising 2.1 percent.
China continues to show signs of an economic revival as its factory activity expanded in May at the fastest pace in five months, raising some hopes that Beijing’s targeted measures to bolster growth are having an impact.
China’s official purchasing managers’ index, geared toward large, state-owned companies, rose to 50.8 in May, from 50.4 in April, the National Bureau of Statistics said Sunday, beating market expectations of 50.6. Figures above 50 indicate expansion.
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