Asian stock markets rise on Wall Street gains and positive China data

Asian stock markets started the new trading week positively, driven by record highs on Wall Street and positive economic data from China.

In Tokyo, the Nikkei index increased by 0.3 percent to 38,303.68 points, while the broader Topix rose by 0.9 percent to 2704.97 points.

Analysts mentioned that the Nikkei's gains could have been stronger if not for a decline in shares of Fast Retailing, which fell 2.45 percent due to criticism of its cotton sourcing policy from Xinjiang.

The Shanghai stock exchange also saw gains, with the main index climbing 1.0 percent to 3360.38 points.

Furthermore, the index tracking major companies in Shanghai and Shenzhen rose by 0.7 percent to 3944.01 points.

The positive momentum in Chinese stocks was further supported by a favorable reading of the private purchasing managers' index, reinforcing the strength of the official data released over the weekend.

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