Asian stocks reach six-year high on strong manufacturing data

Asian indices hit a fresh six-year high this morning after positive manufacturing data helped lift sentiment.

The MSCI Asia Pacific Index rose as much as 0.8% to hit a high of 146.4 this morning, its highest level since June 9, 2008, as most major regional indexes gained. The Hong Kong Hang Seng index rose by 1.2% while the Shanghai Composite Index and the Nikkei rose by 0.2% apiece. The rise was helped by positive manufacturing news from major economies, with factory output unexpectedly increasing in the UK, US activity remaining strong and Chinese manufacturing rising at the fastest pace this year last month. Both the MSCI World index and the S&P 500 in the US hit fresh record highs of t...