the Caixin services purchasing managers' index showed that China's services sector expanded for the 18th consecutive month.
Asia-Pacific markets mostly rose Wednesday, after U.S. Federal Reserve Chair Jerome Powell noted there was progress on reining in inflation, while investors also assessed a slew of data from the region.that Japan's composite purchasing managers' index fell to 49.7 in June, down sharply from 52.6 in the previous month. This signals a decrease in Japanese private sector activity for the first time in seven months.
The bank noted that a slight reduction in services activity, the first decline since August 2022, outweighed a marginal increase in manufacturing output for the month.showed that China's services sector expanded for the 18th consecutive month, though it was at its slowest pace since October 2023. The PMI was 51.2 in June, down from 54.0 a month prior.Tesla shares helped lift the S&P 500 after Elon Musk's electric vehicle company beat expected deliveries for the second quarter.