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The MSCI Asia Pacific Index jumped 1.1 per cent to 116.61 as two stocks rose for each that fell on the gauge, reports Bloomberg. This could put it in line for its highest close since December 8th.
Among the shares benefitting from the increased demand for manufacturing were Toyota and Honda, which led a rally among carmakers.
James Hardie Industries, a Sydney-based firm which does much of its business in the US, moved forward 2.5 per cent.
Michiya Tomita, a Hong Kong-based fund manager at Mitsubishi UFJ Asset Management, told the news provider valuations were looking attractive to investors.
"Economic data across the globe has been encouraging," he added.
Asian shares also saw a boost yesterday as Chinese manufacturing figures emerged looking better than expected, Reuters noted.
Posted by Greg Secker
