Shanghai bourse bounces back

The Shanghai Composite soared 4.7 per cent.

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By :  ,  Financial Analyst

Most Asian markets started the month on a positive note today (June 1st), bouncing back from last week's losses. The Shanghai Composite index soared 4.7 per cent – its biggest daily gain since January 21st​ – on hopes that Beijing will bring on more stimulus after the release of weak data. The jump comes after it tumbled 6.5 per cent on Thursday (May 28th).
Two surveys released today showed China's manufacturing industry remained weak last month, adding to pressure on the Chinese government to unveil more measures to spur economic growth.

Greece will also​ be back at the top of global investors' radars this week. The country might miss a debt payment on June 5th if it fails to receive bailout funds from creditors, who are demanding that the country make reforms to its economy. 

The Greek government said a rescue deal with its international bailout creditors would be reached this week.

The Shanghai Composite jumped 4.7 per cent to 4,828.74, while Hong Kong's Hang Seng gained 0.6 per cent to 27,597.16. Japan's Nikkei 225 remained flat at 20,569.87. South Korea's Kospi sank 0.6 per cent to 2,102.37 and Australia's S&P/ASX 200 lost 0.7 per cent to 5,735.40.

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