Asian stocks rise slightly, Nikkei performs well, China lags due to weak PMI

From Investing.com: 2024-07-02 22:57:20

Asian stocks rose slightly, with Japan’s Nikkei 225 nearing record highs while Chinese markets fell on disappointing service sector readings. Wall Street hit record highs after Fed Chair Powell mentioned progress in curbing inflation, but futures fell slightly as more confidence to cut rates is needed. Expectations on U.S. interest rates limited major gains in Asian markets. Japan’s Nikkei outperformed, rising 0.9% due to dovish BOJ bets. However, Chinese stocks fell as services PMI disappointed, indicating a cooling services sector and concerns of a broader economic slowdown in China. Other Asian markets were marginally higher, but futures for India’s index were mildly negative amidst negative sentiment towards Adani Enterprises Ltd.



Read more at Investing.com: Nikkei outperforms, China lags on weak PMI By Investing.com