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Hong Kong. Asian markets, including Indonesia, rose on Thursday as upbeat manufacturing data from across the globe lifted spirits, while traders were also confident Greece would soon reach a deal with creditors to slash its debt.

With China and India on Wednesday posting strong growth in manufacturing activity last month, and Europe and the United States following suit, analysts said there was some hope that a recovery could be back on track.

Indonesia’s benchmark stock index rose for the third day in morning trading on Thursday.

The Jakarta Composite Index gained 22.77 points, or 0.6 percent, to Rp 3,987.75 at the midday break.

Vale Indonesia, the largest nickel producer in the country, rose 1.3 percent to close at Rp 4,000, while Timah, the state-controlled tin miner, rose 0.5 percent to Rp 1,880.

Tokyo gained 0.84 percent, Sydney added 0.95 percent, Seoul was 1.46 percent higher, Shanghai climbed 0.26 percent and Hong Kong was up 1.50 percent.

On Wednesday China, the world’s number one exporter, reported a second month of expansion. The official purchasing managers index (PMI) rose to 50.5 in January from 50.3 in December, after contracting for the first time in 33 months in November, when the PMI stood at 49.

A reading above 50 indicates the sector is expanding while a reading below 50 suggests a contraction.

New Delhi then said its manufacturing sector saw the strongest growth for eight months, with the HSBC PMI rising to 57.5 in January from December’s 54.2.

And while activity continued to contract in Taiwan and South Korea the rate was less severe.

Later in the day signs of recovery in German manufacturing brought encouragement to the eurozone. The region’s seasonally-adjusted PMI by London-based Markit rose for the second month running in January.

The index hit a five-month high of 48.8, still a contraction but higher than estimated -- thanks to Germany’s climb to 51.0 and neighbouring Austria rising even higher. Rates of contraction also eased in Italy, Spain and the Netherlands, Markit said.

And in the United States the Institute for Supply Management’s manufacturing index rose to 54.1 percent from 53.1 in December.

It also showed that raw materials prices were on the march, the sub-index rising to 55.5 from 47.5 in November, when prices were declining.

Separately the Commerce Department said construction spending picked up 1.5 percent month on month in December and was 4.3 percent higher than a year earlier.

“We’re seeing a lot of signs of stability in world growth in the manufacturing data,” RBS Morgans principal investment adviser Christopher Macdonald told Dow Jones Newswires.

“We’ve got an easing bias in the major economies and the (Federal Reserve) is priming the market for (a third round of monetary easing).

“Europe has made further steps toward a fiscal accord and a private sector bond deal with Greece is imminent.”

The euro bought $1.3169 and 100.32 yen in early Asian trade, compared with $1.3161 and 100.31 yen in New York late Wednesday. The dollar was at 76.17 yen against 76.21 yen in New York.

In Europe, officials from Greece remained locked in negotiations with private creditors on cutting Athens’ debt by at least half as it struggles to meet strict rules on accessing a second bailout.

The country’s leaders have expressed confidence they will have an agreement by the end of the week.

Meanwhile in Tokyo, trading of 241 companies, including Sony, Hitachi and Mitsubishi Electric, was suspended owing to a system malfunction. Trading was due to resume with the normal afternoon session at 0330 GMT.

Oil prices were mixed in early trade, with New York’s main contract, light sweet crude for delivery in March, down three cents to $97.58 a barrel while Brent North Sea crude for March delivery rose 21 cents to $111.77.

Gold was at $1,749.10 an ounce at 0245 GMT, against $1,745.10 in New York late Wednesday.

Agence France-Presse