Asian indexes closed on green

Asia stocks indexThe Asian indexes closed on green, for the second consecutive session. They were supported by hopes that the growth of the Chinese economy in the world finally stabilized. The investors are increasingly optimistic about China in recent sessions amid better economic data such as the July report on manufacturing activity. The positive news sent the benchmark Shanghai Composite to 7-month high. The Hong Kong’s Hang Seng index rose again to 4-year high. The main risk events to come later this week, were also in the spotlight. Wednesday is expected next meeting of the US Federal Reserve, to which the institution is likely to continue the course of lowering your monthly purchases of assets to 25 billion USD. The focus will be data on the US economic growth in the second quarter and the government index of purchasing managers in China. The Chinese Shanghai Composite rose 0.24% to 2,183.19 points, recording its eighth consecutive session of growth. Meanwhile, the CNY hit a new four-month high against the USD. The insurers reported mixed performance amid signs that Chinese regulators are considering new measures to tighten rules in an attempt to reduce the risk of failures. The capitalisation of New China Life Insurance slid more than 2%, while China Life Insurance added nearly 1%.
The Hong Kong’s Hang Seng added 0.87 percent to 24 640.53 points, reaching a new four-year high after rising for the fifth consecutive day. The Japanese benchmark Nikkei 225 climbed new 6-month high for a second day despite conflicting economic data released before the opening of trade. The retail sales in the country of the rising sun fell more than expected in June, closing a weak quarter was marked by the rise of the levy on sales. The retail trade declined by 0.6% from an year earlier in the sixth month with expectations for a decline of 0.5%.
Some of the companies in the commercial sector, however, reported gains, led by Daiei and Fast Retailing, which widened its capitalization to 1.3% and 3%. Nissan Motor rose by 1.8% after reporting annual growth in quarterly profit by 37%. The South Korean KOSPI rose 0.64% to 2,061.97 points, closing trade at its highest level since 2011. The investors shrugged off data showing a contraction in the current account surplus of the country in June.
The shares of automakers Kia Motors and Hyundai Motor rose by 6% and 4.6%. Samsung Electronics did add 2% despite news that the delayed release of its new smartphone running OS Tizen.
The Australian benchmark S&P ASX 200 closed at a new six-year high of 5,588.44 points, adding 0.20%. The shares of National Australia Bank rose more than 1% after news Monday that the company has disposed of a portfolio of troubled British loans worth 1.2 billion USD.

Leave a Reply

Your email address will not be published. Required fields are marked *