Nikkei rises as weak yen helps market look past soft China PMIs
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By Ayai Tomisawa
TOKYO, Dec 1 (Reuters) - Japan's Nikkei share average rose on Tuesday morning as a weak yen and rising U.S. futures underpinned sentiment, shrugging off soft Chinese factory surveys.
Activity in China's manufacturing sector contracted more than expected in November, an official survey showed on Tuesday. A separate private survey also showed factory activity contracted for the ninth straight month in November.
But traders said the weak outcome in the surveys was priced into the market when Japanese stocks fell on Monday.
"A weak yen and rising U.S. futures dominate market sentiment today," said Yutaka Miura, senior technical analyst at Mizuho Securities, adding that investors remain bullish about the Japanese market although they may sell when the Nikkei benchmark gets closer to 20,000.
He said that trading volume may be thin on Tuesday before big events this week, including Thursday's European Central Bank policy review and Friday's U.S. jobs report.
U.S. futures rose, pining risk appetite in Asian trade. Continuación...