Asian stock markets track economic data from the region

Asian stocks rose as investors weighed private surveys of factory activity. Asia-Pacific stocks rose as investors weighed a raft of manufacturing activity reports that showed output slowing in the region. China’s Caixin manufacturing purchasing managers’ index for June came in at 50.5, slightly above economists’ expectations of 50.2. China’s official government PMI readings reported a third straight month of contraction. Mainland Chinese markets rose: The Shanghai Composite Index rose 0.72 percent and the Shenzhen Component Index rose 0.18 percent. Hong Kong’s Hang Seng index rose 1.29 percent and the Hang Seng Tech index rose more than 2 percent. Japan’s Nikkei 225 led the gains in the region, rising 1.46 percent, while the Topix also rose 1.11 percent. South Korea’s Kospi rose 1.39 percent and the Kosdaq rose 1.81 percent. Private surveys for South Korea and Japan also showed factory activity slowing this month. In Australia, the S&P/ASX 200 rose 0.27 percent as investors awaited the Reserve Bank of Australia’s rate decision on Tuesday. Economists expect the central bank to raise the cash rate by another 25 basis points to 4.35 percent. The S&P Global ASEAN Manufacturing Purchasing Managers Index saw conditions for the manufacturing sector improve slightly in June, reaching 51, below 51.1 seen a month earlier. In the U.S., all three major indexes gained on Friday, led by technology stocks. The Nasdaq Composite rose 1.45 percent, the S&P 500 added 1.23 percent and the Dow Jones Industrial Average added 0.84 percent.