Japanese stocks gain from two-week low as service sector expands impressively
Japan's service sector activity rose at the fastest pace in five months in July. The S&P Global final Japan Services purchasing managers' index (PMI) climbed to 53.6 in July from 51.7 in June, marking the strongest expansion since February. A PMI reading above 50.0 indicates growth in activity, while that below the threshold points to contraction.
Further, Bank of Japan' June meeting minutes showed that a few board members are in favor of resuming interest rate increases if trade friction de-escalates.
Japanese stocks also gained on firm overnight cues from the US equities.
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