India stocks hit record highs to lead gains in Asia
Istanbul, June 3 (Hibya) - India's stocks hit record highs, leading to gains in Asian markets on Monday, while a private survey showed China’s manufacturing activity expanded at its fastest pace in nearly two years.
India’s Nifty 50 index and the S&P BSE Sensex were last up 3.0 percent each, as exit polls over the weekend projected Prime Minister Narendra Modi and his Bharatiya Janata Party-led alliance was set for a rare third consecutive term in power.
Hong Kong’s Hang Seng index gained 1.77 percent, while mainland China’s CSI 300 ended 0.25 percent higher at 3,588.75. Japan’s Nikkei 225 closed 1.13 percent higher to end at 38,923.03, while the broader Topix index ended 0.9 percent up at 2,798.07.
In Australia, the S&P/ASX 200 added 0.77 percent to close at 7,761.00. South Korea’s Kospi rose 1.74 percent to end at 2,682.52, while the smaller-cap Kosdaq was 0.56 percent higher at 844.72.
The Caixin survey showed China’s manufacturing PMI rose to 51.7 in May from 51.4 the previous month, at its fastest pace since June 2022. It was also higher than a Reuters poll forecast of 51.5.
The private survey was conducted after official data on Friday showed that China’s manufacturing sector unexpectedly contracted in May.
Usa News Agency
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