Equities Asia/Pacific: Further gains – economic data support

TOKIO/HONGKONG/SHANGHAI/SYDNEY The market strategists at Deutsche Bank justified the significant gains in Japan with the latest purchasing manager indices. Thanks to the significant increase in the service component, the expansion mark of 50 has been exceeded again. The leading Japanese index Nikkei 225 rose by 1.46 percent to 27,299.19 points.

The Australian stock market also benefited from data on the Judo Bank’s domestic purchasing manager index. Although it failed to move into the expansion zone above 50, the index has now risen again after three consecutive declines, according to market strategists at Deutsche Bank. The S&P ASX 200 closed 0.44 percent higher at 7490.40 points.

The chances of further gains after the holiday break are good for the Chinese stock exchanges. “After China was often dismissed as “no longer investable” in the past year, Asian portfolio managers were extremely optimistic in a recent survey,” says investment strategist Ulrich Stephan from Postbank. “Although the MSCI China has recorded a remarkable price increase of 33 percent in euros since last November, its performance since the beginning of 2022 is still minus seven percent. I therefore do not consider the recovery to be over yet either.”