inflation readings from China and the US later in the week. China’s Shanghai traded with caution as data showed the country’s exports and imports continued to decline in July. Exports fell by 14.5 per cent last month from a year earlier to $281.76 billion, compared with a fall of 12.4 per cent in June. Imports, meanwhile, fell by 12.4 per cent in July from a year earlier to $201.16 billion, down from a fall of 6.8 per cent in June. Investor sentiments also dulled as the Chinese government failed to infuse concrete and forceful measures to support a flagging economy. Japan’s Nikkei advanced for the third straight session in tandem with the positive Wall Street overnight amid robust corporate earnings season. Meanwhile, Japan’s current account surplus surged in June, while household spending and real wages declined in the same month.
Nikkei 225 up 67.46 points or 0.21 to 32,322.02, Jakarta Composite rose by 3.96 points or 0.06% to 6,890.33, Shanghai lifted by 0.46 points or 0.01% to 3,269.29 and FTSE Bursa Malaysia KLCI higher by 1.13 points or 0.08% to 1,446.34.
On the flip side, Hang Seng down by 267.58 points or 1.39% to 19,270.34, KOSPI dipped by 3.01 points or 0.12% to 2,577.70, Straight times slipped by 0.42 points or 0.01% to 3,309.45, and Taiwan shrunk by 113.83 points or 0.67% to 16,882.17.
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