Economics
Asian Stocks Gain as Japan Rallies on Weaker Yen; China Drags
- Investors waiting for U.S., EU data to assess economy: KGI
- China stocks slide as latest PMI reading points to contraction
Emerging Stocks Face New Era
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Asian equities kicked off June with an advance as Japanese stocks rallied on a weaker yen. Chipmakers boosted Taiwanese shares amid signs of stronger demand, while Chinese stocks retreated after manufacturing data signaled contraction.
The MSCI Asia Pacific Index gained 0.3 percent to 153.19 as of 4:06 p.m. in Hong Kong. The gauge for health companies jumped most as Santen Pharmaceutical Co. and Chugai Pharmaceutical Co. climbed more than 3.2 percent. Eight of 11 industry groups in the benchmark advanced while a measure of energy shares was the worst performer.