Asia Towers on Chinese Factory News

Shares in Asia-Pacific were higher on Tuesday as investors reacted to the release of a private survey of China’s manufacturing activity.

In Japan, the Nikkei 225 restored 353.92 points, or 1.3%, to begin December at 26,787.54.

The Japanese yen traded at 104.31 per U.S. dollar following a weakening yesterday from levels below 104 against the greenback.

In Hong Kong, the Hang Seng index hiked 226.19 points, or 0.9%, to 26,567.68.

The Reserve Bank of Australia (RBA) on Tuesday held steady on its rates.

"For its part, the Board will not increase the cash rate until actual inflation is sustainably within the 2% to 3% target range," RBA Governor Philip Lowe said in a statement. "The Board will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The Board is prepared to do more if necessary."

Following that announcement, the Australian dollar was at $0.7364 after declining from levels around $0.74 yesterday.

CHINA

In Shanghai, the CSI 300 restocked 106.85 points, or 2.2%, to 5,067.10.

The Caixin/Markit manufacturing Purchasing Managers’ Index for November came in at 54.9 — its highest reading in a decade. PMI readings above 50 signify expansion, while those below that level represent contraction.

On Monday, the official manufacturing PMI for November came in at 52.1, according to the National Bureau of Statistics — the highest reading in more than three years.

In other markets

In Korea, the Kospi index recovered 42.91 points, or 1.7%, to 2,634.25.

In Taiwan, the Taiex Index jumped 162.78 points, or 1.2%, to 13,885.67.

In Singapore, the Straits Times Index regained 8.17 points, or 0.3%, to 2,814.12.

In New Zealand, the NZX 50 dropped 38.61 points, or 0.3%, to 12,729.91

In Australia, the ASX 200 re-acquired 70.73 points, or 1.1%, to 6,588.54.