Asian markets climb higher as hope for global recovery strengthens

Guy Bentley
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Asian markets are on the rise this morning after positive data from the US gave investors confidence in the strength of the global recovery, while events in Thailand and Ukraine ensured a note of caution.

The previous session revealed that US factory output growth rose it to its fastest pace in three years, while China's factory performance enjoyed its best performance in five months.

In April, US home resales rose and the number of properties on the market climbed to its highest point in almost two years. However, investors are unlikely to become too optimistic, while concerns of China's slowdown remain prevalent.

Thailand's military seized power in a bloodless coup yesterday, with general Prayuth Chan-Ocha saying the military had to restore order and implement necessary reforms.

Meanwhile, Ukraine has seen some the deadly fighting yet, with 14 Ukrainian soldiers reported dead. The attack took place at a checkpoint in eastern Ukraine only days before the country's presidential election.

Russia may be withdrawing some of its troops from the Ukrainian border, in a move that would likely relieve some of the fears surrounding Russia's intentions toward Ukraine.