BANGKOK (AP) - Asian stock markets rebounded today after encouraging economic data from China and Europe raised hopes that a global economic recovery was underway.
A survey released Thursday by HSBC Corp. indicated that manufacturing in China had expanded in August, the latest evidence that the world's second-largest economy may be over its recent weakness.
Sam Le Cornu, portfolio manager at Macquarie Funds Group in Hong Kong, said the data supported arguments that the world's No. 2 economy should meet Beijing's official target of 7.5 percent growth for the year.
Additional good economic news came from Europe, where manufacturing and services for the 17 countries that use the euro climbed to its highest level since June 2011.
Benchmark crude oil inched up and was just above $105 a barrel. The dollar rose against the euro and the yen.