Asian shares hike on upbeat U.S. factory poll, stimulus optimism

02.09.2020 - Kulakov Vladimir
Asian shares hike on upbeat U.S. factory poll, stimulus optimism

A rally in tech-related stocks and upbeat manufacturing indicators in the United States sent Asian shares up on Wednesday. Meanwhile, additional policy support expected from Washington also supported the jump.

MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.25% gain. Japan’s benchmark index Nikkei jumped 0.35%.

Mainland Chinese shares were seen a shade lower as the CSI 300 declined 0.3%. This followed after the index reached a five-year peak earlier this week.

On Wall Street, a rally in the technology sector supported the S&P 500 and the Nasdaq. The former recorded a 0.75% earning, while the latter advanced 1.39%.

Figures from the Institute for Supply Management showed that manufacturing activity in the United States grew, advancing at its highest level in almost two years.

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