(Bloomberg) — European equity futures and Asian shares both rose following positive news from the US and China. The House passed a deal to avert a US default, Federal Reserve officials hinted at a rate pause, and China’s manufacturing expanded.
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Contracts for the region-wide Euro Stoxx 50 rose around 0.7%, and US equity futures edged higher, indicating positive sentiment that lifted most major markets in Asia on Thursday. Gains for benchmarks in Japan, Australia, and China placed a gauge of Asian shares on course for its best day in four weeks.
The advance in Chinese shares followed Caixin manufacturing data for May that showed an expansion in activity as the reading exceeded forecasts for a small contraction. The numbers followed official figures Wednesday that showed a further contraction in activity, weighing on the country’s equity markets.
For the Chinese economy, “things are not getting worse outside of the growth momentum — but it’s not getting better,” said Wendy Liu, chief Asia and China…
2023-06-01 01:02:44
Article from finance.yahoo.com
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