Asian stock markets are rising on Thursday following the mostly positive cues overnight from Wall Street on optimism about a potential coronavirus vaccine as well as on upbeat U.S. manufacturing data. Investors now look ahead to the U.S. Labor Department’s closely watched monthly employment report for June to be released later today.
The Hang Seng index in Hong Kong led gains among the region’s major markets, rising 2.7%, as of its final hour of trading. Tensions were closely watched after China’s controversial national security law went into effect Tuesday and Hong Kong police announced their first arrests under the measure Wednesday. Mainland Chinese stocks also saw robust gains on the day, with the Shanghai composite rising 2.1% and the Shenzhen component adding 1.3%. Meanwhile, Australia’s S&P/ASX 200 jumped 1.7%. In Japan, the Nikkei 225 rose 0.1%.
The U.S. dollar index, which tracks the greenback against basket of its peers, was at 97.034 following an earlier high of 97.19. Elsewhere, oil prices climbed and gold eased while the dollar was steady as encouraging macro data prompted investors to take on more risk.