Asia opens higher on economic recovery hopes

Asian stock indices opened the fifth session of the week and the third session July higher on hopes for quick recovery from the coronavirus pandemic after positive data from China and the US. 

Earlier Chinese data showed the Caixin services PMI rose to 58.4 in June from 55.0, the widest jump in a decade. 

The US Department of Labor revealed yesterday that the economy has added 4.8 million new jobs in June, beating forecasts of 3 million jobs.

The unemployment rate fell to 11.1% in June, vs. 13.3% in May.

Japan's TOPEX rose 0.10%, while Nikkei 225 added 0.27% to 22,206. 

Japan's CSI 300 rose 0.78%, while Shanghai climbed 1.04% to 3,122. 

Hong Kong's Hang Seng added 0.72% to 25,305, while South Korea's KOSPI rose 0.60% to 2,148. 

New Zealand's NZX 50 rose 0.66% to 11,578, while Australia's S&P/ASX 200 rose 0.14% to 6,041.