Asian stocks notch two-week peak as focus turns to PMIs
Reuters
23-05-23 03:44
Asian stocks reached two-week highs on Tuesday boosted by prospects of avoiding US default and the resilience of Japan’s economy. MSCI’s broadest index of Asia-Pacific shares outside Japan touched its highest level since May 9, whereas Japan’s Nikkei extended its winning streak for the ninth session and rose 0.6%. The US dollar hit its six-month high of 138.88 yen in the Asian session. Purchasing Managers Index surveys are expected in Europe, Britain and the US later during the day and strong services growth may keep the composite readings in expansionary territory.