06:35 AM EDT, 07/01/2024 (MT Newswires) -- Asian stock markets largely advanced Monday on a positive June factory report for China and strong retail sales in Japan.

Hong Kong was closed on holiday while Mumbai's Sensex index struck a fresh all-time high.

Shanghai and Tokyo finished in green, as did most other regional exchanges.

In Japan, the Nikkei 225 ended with a 0.1% gain at the close, led by financial and retail issues.

The benchmark Nikkei 225 rose 47.98 to 39,631.06 as gaining issues outnumbered losers 138 to 84.

Leading the upside was J Front Retailing, up 14.7% after disclosing June store sales. Department store chain Takashimaya rose 11.1%, also after reporting June store sales.

Semiconductor equipment fabrication company Lasertec fell 4%.

Financial issues gained on prospects for higher interest rates, which could improve profits related to lending.

In economic news, Japan's manufacturing purchasing managers index (PMI) posted a neutral 50.0 in June, down modestly from 50.4 in May, reported S&P Global. Readings above 50 point to sector expansion, while below signal contraction.

On the mainland, the Shanghai Composite opened lower but finished up 0.9% to 2,994.73 after a private-sector PMI report pointed to expansion in June.

In economic news, China's headline seasonally adjusted manufacturing sector purchasing managers index (PMI) rose to 51.8 in June, up from 51.7 in May, reported S&P Global, citing its monthly Caixin General Manufacturing PMI survey.

Separately, China's official manufacturing sector PMI report for June was issued on Sunday and posted at 49.5, unchanged from May, according to the National Bureau of Statistics (NBS).

On the other regional exchanges, the S. Korean KOSPI rose 0.2%; the Taiwan TWSE inclined 0.7%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index rose 0.2%, and the Thai Set inclined 0.2%. In late trading in Mumbai, the Sensex was up 0.5%.