Asian shares inched up on Wednesday following positive US manufacturing indicators.  MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25 percent while Japan’s Nikkei advanced 0.35 percent. However, mainland Chinese shares slipped a tad, with bellwether CSI300 index giving up 0.3 percent on investor caution after having hit a five-year high earlier this week.

On Wall Street, both the S&P 500 and Nasdaq boasted record closing highs, with gains of 0.75 percent and 1.39 percent respectively.

The technology sector lead the way, with Apple rising just under 4 percent to take its value to almost $2.3 trillion.

The rise comes following a media report that the company had asked suppliers to make at least 75 million 5G iPhones for later this year.

US manufacturing indicators showed expansion, with the reading from the Institute for Supply Management hitting its highest level in nearly two years.

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