03.09.201306:36:14UTC+00Asian stocks in an uptrend

Further indications of developments in global manufacturing kicked Asian stocks greater on Tuesday, with Japan leading the advances as the yen rallied closer to the ¥100-to-the-dollar mark.

Positive manufacturing data from Europe on Monday supported regional sentiment, after Markit’s eurozone purchasing managers index skyrocketed to 51.4 in August from 50.3 in July - with a score over 50 signifying a hike in factory activity. In terms of individual countries, the readings from both Germany and Italy were particularly greater.

The factory figures from Europe added to a positive picture from China, where on Sunday the country’s official PMI hit a sixteen-month high. This added to a picture of stability in Asia’s biggest economy and resulted in powerful advances for the region’s markets.

The yen was weaker versus the U.S. dollar as investors unwound their safe-haven positions amid indications of development in global manufacturing. The dollar was at ¥99.61 in early Asian exchange Tuesday, compared with ¥99.33 late Monday in New York, and adding to a 1.2% increase in the previous session.

The yen’s actions towards the most eyed ¥100-to-the-dollar level, a mark that has not been breached since July, gave Japanese stocks a lift on Tuesday. The Nikkei boosted 2.5%.

Australia’s S&P ASX 200, however, soared 0.2%, ahead of the Reserve Bank of Australia’s policy announcement later in the session. Although there are little expectations of a change in financial policy, a surprise could impact both local stocks and the currency.

South Korea’s Kospi skyrocketed 0.4%.

There was no lead from the U.S. on Tuesday, as Wall Street was closed on Monday for the Labor Day public holiday. Later in the week, the U.S. will release its monthly labor report, which will be looked at as a sign over whether the Federal Reserve will roll back its stimulus.