The upward momentum for the markets is partly due to the release of the results of a survey by Markit and
The report showed that the Chinese manufacturing purchasing managers index rose to 50.8 in May from 50.4 in April, exceeding the consensus estimate of 50.6 and signaling the fastest rate of expansion in five months.
Not long after the open, the
Economists expect the ISM's manufacturing index to climb to 55.5 in May from 54.9 in April, with a reading above 50 indicating growth in the sector.
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