Asia Shares Rise on Japan Gains, Better China Data – Asia Market Wrap

– Asian equities rose across the board, driven by advances in Japan as the S&P 500 Index set a new record and Chinese consumption showed indications of revival.

– The Nikkei 225 Stock Average increased by up to 1.9%, bringing it closer to its historic peak in 1989. Tech companies led the gains as US semiconductor equipment manufacturer Applied Materials issued a positive revenue estimate.

– An index of Hong Kong-listed Chinese companies rose 2%, putting Asian shares on track for their greatest weekly gains this year. The S&P 500 increased to roughly 5,030, boosted by banks and energy stocks. Contracts for US stocks in Asia were mixed.