Global Stocks Higher Tuesday

SEOUL, South Korea (AP) -- Global stocks were higher Tuesday, with U.S. markets set to ring in 2017 with gains, as upbeat Chinese factory data bolstered investor sentiment.

KEEPING SCORE: Britain's FTSE 100 rose 0.7 percent to 7,194.02 and France's CAC 40 added 0.5 percent to 4,906.87. Germany's DAX inched up 0.1 percent to 11,604.91. Futures showed that U.S. stock markets would open with gains. Dow futures rose 0.6 percent, while S&P futures also advanced 0.6 percent. Wall Street was closed for the New Year's holiday on Monday.

ASIA'S DAY: Asian markets finished higher. Hong Kong's Hang Seng index gained 0.7 percent to 22,150.40 and South Korea's Kospi rose 0.9 percent to 2,043.97. China's Shanghai Composite Index advanced 1 percent to 3,135.92. Australia's S&P/ASX 200 jumped 1.2 percent to 5,733.20. Stocks in Taiwan and Singapore were higher, but they were lower in Indonesia. Tokyo stock markets remained closed for the New Year's holiday.

CHINA DATA: Caixin manufacturing purchasing managers' index advanced in December at its fastest rate in three years. The index stood at 51.9, higher than market forecasts of 50.7 and an improvement from the previous month's reading of 50.9. Over the weekend, a report showed that China's manufacturing sector continued to expand in December, though at a slightly slower pace than the month before.

ANALYST'S TAKE: "This showed that (the Chinese) government's measures to curb the property bubble in early October 2016 have started to have a knock-on effect on the broader economy," said Margaret Yang, a market analyst at CMC Markets in Singapore.

OIL: Benchmark U.S. crude was up 55 cents at $54.28 per barrel in New York. Brent crude, used to price international oils, was up 66 cents at $57.49.

CURRENCIES: The dollar rose to 118.06 yen from 117.41. The euro was trading at $1.0430, down from $1.0467.

(KA)