Investors look ahead to China services activity data

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SINGAPORE — Shares in Asia-Pacific rose in Friday morning trade as investors look ahead to the release of a private survey on China’s services sector activity in August.

The Nikkei 225 in Japan rose 0.32% while the Topix index edged 0.47% higher. South Korea’s Kospi climbed 0.29%.

In Australia, the S&P/ASX 200 gained 0.17%.

MSCI’s largest index of Asia-Pacific shares outside Japan traded 0.13% higher.

Looking ahead, the Caixin/Markit services Purchasing Managers’ Index is expected at 9:45 a.m. HK/SIN. Earlier this week, the official non-manufacturing PMI for August showed contraction in the sector for the first time since early 2020.

In corporate developments, investors will watch Hong Kong-listed shares of Alibaba following reports that the firm is set to invest 100 billion yuan (about $15.5 billion) by 2025 for “common prosperity.”

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