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Global stocks rose on Monday and oil prices rebounded, leading to optimism in the previous China manufacturing survey and investors' conviction that a compromise could be reached in the Sino US trade talks.
The MSCI Mingsheng Asia Pacific Index (excluding Japan) rose 0.46% to recover some of Friday's losses, while the Nikkei. N225 jumped 1.11%.
U.S. stock index futures rose 0.31%, close to a record high. U.S. stocks closed lower on Friday, trading shorter on Thanksgiving.
China's stock market also rose. CSI300 rose 0.59% from a three-month low hit on Friday.
Caixin / Markit jointly announced on Monday that China's seasonally adjusted manufacturing purchasing managers' index (PMI) rose to 51.8 in November, higher than the median of 51.4 in the Reuters survey and 51.7 last month, and the highest since December 2016.
"Output and new orders are strong. This survey seems to show that domestic demand is quite strong, even if we can't have great optimism about the economic outlook, "said Naoki Tashiro, President of T.S. China research.
The MSCI Mingsheng global stock index edged up 0.1%, just a short distance from the historic high set in January 2018.
Although the signing of the Hong Kong related bill by the United States last week raised doubts about the Sino-U.S. trade negotiations, investors still generally believe that further escalation of the trade war should be avoided.
"It seems that it is very difficult for the leaders of the two countries to shake hands and sign the agreement this month. It is more likely that China will basically slow down its efforts to buy more American agricultural products, while the United States will delay the imposition of tariffs, "said Hiroyuki Ueno, senior strategist of asset management at Sumitomo Mitsui trust.
"Whether formally signed or not, the market will see such an arrangement as a practical agreement," he said.


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