Asian markets are up after China’s official manufacturing PMI climbed to a five-month high of 50.8 in May.
The State Council in China also announced additional policy easing measures on May 30.
Premier Li Keqiang promised targeted reserve requirement ratio (RRR) cuts to support economic growth. This includes more targeted monetary and credit easing and measures to lower burden on companies in China.
- The Nikkei is up 1.7%
- Australia’s S&P/ASX 200 is up 0.2%
- South Korea’s KOSPI is up 0.5%
U.S. futures are flat and markets in China and Hong Kong are closed.
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