The Asian markets concluded Monday’s trade mostly in green, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world’s second-largest economy. Indonesia market was closed today on account of ‘Idul Fitri’ festival holiday while Malaysia and Singapore market were closed today on account of ‘Hari Raya Puasa’ holiday. The National Bureau of Statistics stated that profits earned by Chinese industrial firms rose 17.9% in June to 588.08 billion yuan ($94.98 billion) from a year earlier, up sharply from an 8.9% rise in May. The recent data have reinforced market expectations that the Chinese economy is powering through its recent soft patch as the government uses targeted stimulus measures to support growth. China has cut reserve requirements for some banks, accelerated infrastructure spending and loosened property curbs as Premier Li Keqiang seeks to keep growth from falling below his 7.5% target. Japan’s National Core CPI fell to a seasonally adjusted 3.3%, from 3.4% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2177.95 | 51.33 | 2.41 |
Hang Seng | 24428.63 | 212.62 | 0.88 |
Jakarta Composite | - | - | - |
KLSE Composite | - | - | - |
Nikkei 225 | 15529.40 | 71.53 | 0.46 |
Straits Times | - | - | - |
KOSPI Composite | 2048.81 | 14.96 | 0.74 |
Taiwan Weighted | 9420.18 | -19.11 | -0.20 |