Daily Metals Insight 1st June 09

Ventura Securities Ltd

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Asian stocks rose, extending the longest monthly winning streak since the financial crisis began in 2007, as an expansion in Chinese manufacturing for a third month drove commodity prices higher.

China’s manufacturing expanded for a third month, adding to evidence that the world’s third largest economy is recovering from its deepest slump in almost a decade. The official Purchasing Manager’s Index was at a seasonally adjusted 53.1 in May after registering 53.5 in April, the Federation of Logistics and Purchasing said. A reading above 50 indicates an expansion.

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