What's Affecting Markets Today
Asian markets higher
Asia-Pacific stock markets rallied on Monday, driven by a private survey indicating that China’s manufacturing activity expanded at its fastest pace in nearly two years. The Caixin survey reported a manufacturing PMI increase to 51.7 in May from 51.4 in April, surpassing the Reuters forecast of 51.5 and marking the highest growth since June 2022. This follows official data from Friday showing an unexpected contraction in China’s manufacturing sector for May.
Hong Kong’s Hang Seng index surged 2%, and mainland China’s CSI 300 edged up 0.22%. Investors are also closely watching India’s markets, where exit polls suggest Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance is poised for a third consecutive term.
In Japan, the Nikkei 225 climbed approximately 1%, with the Topix index up 0.86%. South Korea’s Kospi advanced 1.80%, and the smaller-cap Kosdaq increased by 0.26%.
ASX Stocks
ASX 200 - 7,761.8 (+0.8%)
Key Highlights:
Leaders
NGI Navigator Global 12.97%
APM APM Human Services Int 10.20%
DRO Droneshield Ltd 9.78%
VUL Vulcan Energy Resources 5.49%
SGF SG Fleet Group Ltd 4.92%
Laggards
WA1 WA1 Resources Ltd -13.02%
LOV Lovisa Holdings Ltd -9.67%
NEU Neuren Pharma Ltd -6.15%
SLR Silver Lake Resources Ltd -4.89%
RSG Resolute Mining Ltd -4.02%
