Asian stocks showed positive momentum with notable increases driven by China's unexpected expansion in the manufacturing PMI and strong performance in tech sectors. South Korea and Japan led the quarterly gains, boosted by optimism in artificial intelligence. Chinese indices experienced significant gains, with the Shanghai Composite and CSI 300 both rising due to favorable business activity data, contributing to robust export-driven economic performance despite weaker local demand. While the region is set for one of its strongest quarterly performances in years thanks to semiconductor stock rallies, some markets like Hong Kong lagged. Investors are closely monitoring upcoming U.S. economic data and geopolitical developments as they prepare for the second half of the year.

Asia stocks rise on upbeat China PMI; tech spurs bumper quarter

Author Investing.com

Stock Markets

Published06/29/2026, 11:36 PM

Updated06/30/2026, 03:28 AM

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Asia stocks rise on upbeat China PMI; tech spurs bumper quarter

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Investing.com-- Most Asian stocks rose on Tuesday, with Chinese markets buoyed by stronger-than-expected business activity data, while strong gains in technology shares put regional bourses on track for a stellar second quarter.

South Korea and Japan were the best performers for the quarter, as optimism over artificial intelligence drove outsized gains in local tech shares.

Regional markets took a positive lead-in from Wall Street, where technology stocks drove strong gains in the overnight session. S&P 500 Futuresrose 0.1%, while Nasdaq 100 Futures added 0.3% in Asian trade, with caution kicking in ahead of more potential U.S.-Iran peace talks and key labor data due later this week.

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China gains as PMI reads stronger than expected

China’s Shanghai Shenzhen CSI 300 advanced over 1.1%, while the Shanghai Composite rose 0.5%.

The bluechip index was trading up over 10% in the second quarter.

China’s official manufacturing PMI unexpectedly returned to expansion territory in June at 50.3, while the non-manufacturing PMI rose to 50.2 and the composite gauge climbed to 50.6, indicating the economy continued to benefit from resilient high-tech exports.

The print indicated that exports continued to be the biggest drivers of China’s economy, helping offset sustained weakness in local demand.

ING analysts said while Tuesday’s data showed some strength, it still heralded a potential slowdown in second-quarter economic growth.

This trend was likely to elicit more stimulus measures from Beijing in the coming months, ING analysts said.

Chip rally caps one of Asia’s strongest quarters

Tuesday marks the final trading day of the second quarter, with regional equities poised to cap one of their strongest quarters in years as an artificial intelligence-driven rally in semiconductor stocks powered gains across major markets.

Japan’s Nikkei 225 advanced over 1% and remained on track for a quarterly gain of more than 36%, while South Korea’s KOSPI rose 1% and was still set for an almost 65% jump during the quarter after hitting a series of record highs.

The MSCI Asia ex Japan Net USD climbed about 21% over the past three months, led by South Korea, now the world’s best-performing major equity market this year.

But some Asian markets lagged in the quarter. Hong Kong’s Hang Seng fell over 1% on Tuesday and was set to lose 7.5% in the quarter.

Regional data in focus as markets eye second half

Australia’s ASX 200 rose 0.5%. Minutes from the Reserve Bank of Australia’s June meeting reaffirmed that policymakers remained cautious on inflation and were prepared to hike interest rates further after an aggressive hiking cycle this year.

Japan’s TOPIX index rose 0.3% after data showed industrial production rose less than expected in May while unemployment remained steady.

Indonesia’s Jakarta Stock Exchange Composite Index fell about 1.9%, extending its underperformance as foreign investors continued to pull money from the market amid lingering concerns over policy credibility, market transparency and a potential MSCI downgrade, leaving the benchmark the world’s worst-performing major equity index this year.

Investors also digested Philippine trade andinflation data, with oil price volatility remaining a key consideration for the import-dependent economy, while Thailand’s industrial production figures pointed to continued softness in manufacturing activity.

Thailand’s SET Index was up 0.3% the Philippines’ PSEi Composite lost 1.6%.

Attention later in the day will turn to European inflation data, U.S. consumer confidence and JOLTS job openings, before Thursday’s U.S. nonfarm payrolls report. Markets will also monitor remarks from Federal Reserve Chair Kevin Warsh on Wednesday, developments in U.S.-Iran talks, and India’s trade balance and RBI credit review for fresh cues heading into the third quarter.

Reporting by Roushni Nair

Asia stocks rise on upbeat China PMI; tech spurs bumper quarter

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Asia stocks rise on upbeat China PMI; tech spurs bumper quarter By Investing.com

Asia stocks rise on upbeat China PMI; tech spurs bumper quarter

China gains as PMI reads stronger than expected

Chip rally caps one of Asia’s strongest quarters

Regional data in focus as markets eye second half

Industry Spotlight

Trending Stocks