Asian stocks rose, as concern eased about a slowdown in China’s economy.
Japan’s Nikkei 225 index gained 98.33 points, or 0.7%, to 15,034.25.
The Hang Seng Index in Hong Kong returned from holiday to rocket 209.39 points, or 0.9%, higher to 23,291.04
China Resources Power Holdings Co. increased 4.9% to lead gains on Hong Kong’s benchmark index.
China Everbright International Ltd. soared 7% in Hong Kong after saying it agreed to transfer water-treatment assets to HanKore Environment Tech Group Ltd. for the equivalent of about 5.81 billion yuan ($928 million U.S.) in stock.
Galaxy Entertainment Group Ltd., controlled by billionaire Lui Che-woo, lost 3.1% in Hong Kong after Macau casino-revenue growth missed estimates in May. Sands China Ltd., a unit of Las Vegas Sands Corp., retreated 1.4%
KCC Corp. jumped 11% in Seoul after Samsung Everland Inc., in which it owns a stake, announced plans for an initial public offering.
Daio Paper Corp. slumped 7.1% in Tokyo as the maker of packaging materials said it will raise as much as 22.4 billion yen ($219 million U.S.) in a share sale.
Australia’s S&P/ASX 200 Index maintained declines after the Reserve Bank kept its benchmark interest rate at a record low.
CHINA
The Shanghai CSI 300 returned from a long weekend to slide 6.55 points, or 0.3%, to 2,149.92
The final reading of a China factory measure for May from HSBC Holdings Plc and Markit Economics came in at 49.4, missing economist forecasts for 49.7. That comes two days after a government gauge signaled the fastest growth in five months. Levels below 50 signal contraction in the sector.
China’s official Purchasing Managers’ Index rose to 50.8 in May, the highest level since December and topping the median economist estimate in a Bloomberg survey, a June 1 report showed.
China’s non-manufacturing purchasing managers’ index rose to 55.5 in May from 54.8 in April, according to data released today by the Beijing-based National Bureau of Statistics and the China Federation of Logistics and Purchasing.
China’s economy is projected to grow 7.3% this year, which would be the weakest pace since 1990, according to analysts surveyed in May. Expansion slowed to 7.4% in the first quarter from a year earlier, compared with 7.7% in the previous period. The government’s target is 7.5%.
In other markets;
Singapore’s Straits Times Index gave back 5.57 points, or 0.2%, to 3,296.67
Korea’s Kospi index added 6.56 points, or 0.3%, to 2,008.56
In Taiwan, the Taiex index returned from holiday to add 47.55 points, or 0.5%, to 9,123.46
In New Zealand, the NZX 50 began a short week down 14.32 points, or 0.3%, to 5,164.12
Australia’s S&P/ASX 200 dropped 38.78 points, or 0.7%, to 5,479.68
