Asian Stocks Unable To Enjoy Positive Chinese and Japanese Data
By Daisy Joseph
The economic data released in the market has a major influence on the stock values. Recently, Chinese and Japanese data were released in the market which showed a positive growth. The strong economic numbers from both the economies make it possible to believe that Asian stocks could rise higher.
On Monday trading, investors were happy with the positive economic news. Chinese manufacturing sector data showed that the output has reached its three-month high in June. Business sentiment snapshot data from Japan showed that the sentiment rose to its highest in the past three years.
As a result, Tokyo, Hong Kong, and Shanghai stocks finished higher. The gains are not dramatic, but they are still significant. Nikkei index gained 0.1%. However, Kospi index of South Korea didn’t gain as much. China’s bond markets will receive more activity as the country announced a trading link between mainland China and Hong Kong.
Usually, the Chinese data have a greater impact on the Australian market. The ASX 200 index of Australia started with gains, but it was not able to hold on to those gains until the end of the day.
The upcoming US Independence day has resulted in a slight reduction in trading volumes. The Australian market is hopeful that the Reserve Bank of Australia may provide some relieving news after the monetary policy meeting on Tuesday. Even though interest rate won’t be raised immediately, the investors want to know whether the RBA will join the hawkish policies of other major central banks.
TOP LIVE WEBINARS