Wall Street record high boosts Asian markets

A fresh record high for US equity markets lifted stocks around the globe overnight, after positive data in the States sent shares soaring.

The S&P 500 - the US' leading index - climbed 0.7% to close at a record high of 1,885 points, after a report showed a tenth straight month of manufacturing expansion. The Dow Jones Industrial Average also finished higher, up 0.5%. Gains in the US helped offset weak Japanese data, after a survey revealed many companies do not believe Prime Minister Abe's economic reforms will push inflation to its 2% target. Investors shrugged off this fear, with the Nikkei closing up 1% overnight. Other Asian markets were also firmer, with the Hong Kong Hang Seng closing up around 0.2%.