Bullishness from China PMI Fails to Sustain

Economic data released in Asia boosted sentiment and lifted stocks and commodities higher. China's PMI accelerated for a second consecutive month while headlines of Japan's Tankan survey beat market expectations. The MSCI Asia Pacific Index rose to a 5-month high. However, the strong momentum failed to carry forward to European markets which were weighed down by disappointing services index in the UK. WTI crude oil initially crawled higher but faltered below 77.

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Bullishness from China PMI Fails to Sustain