[ad_1]
Asia-Pacific stocks rose slightly on Tuesday morning as investors waited for the US-China trade talks to evolve this week in Shanghai. The Bank of Japan has also chosen to maintain a stable monetary policy.
The Nikkei 225 rose 0.68% at the lunch break, with the Fanuc heavyweight having jumped 3.35%. The Topix index also added 0.5%.
On the Chinese mainland, the Shanghai composite added 0.63% in morning trading, while the Shenzhen component rose 0.89% and the Shenzhen composite rose 0.832%.
The Hong Kong's Hang Seng Index helped reduce Monday's losses to the resumption of trading after yesterday's press conference, when Beijing reiterated its firm support for the beleaguered city leader, Carrie Lam, protesting the draft law on extradition. He also suggested that the management of Hong Kong will not be changed in the near future. The index is traded 0.5% in the morning.
Chinese tech giant Tencent shares rose 1.02%. The company announced Monday that it would cooperate with Qualcomm on gaming devices and 5G.
In South Korea, the Kospi rose 0.61%, after falling on Monday, while the heavyweight Samsung Electronics index jumped more than 1%. In Australia, the S & P / ASX 200 index gained 0.3%.
In total, the MSCI Asia ex Japan index rose 0.36%.
The Bank of Japan maintained its stable monetary policy on Tuesday, but said that it "would not hesitate to take additional easing measures" if the economy slows to reach the rate of Target inflation of 2%.
The Japanese central bank has also announced its intention to maintain the current "extremely low levels" of short- and long-term interest rates for a long time, at least until spring 2020.
The measures were taken after the European Central Bank announced last week a potential rate cut and further monetary easing.
The Japanese yen traded at 108.70 against the dollar after hitting a low of 108.94.
Government data released earlier Tuesday indicated that industrial production in Japan fell more than expected in June.
Chart of Asia-Pacific Market Indexes
In the United States, the Dow Jones Industrial Average rose 28.90 points to close at 27,221.35. while the Nasdaq Composite lost 0.44% to close its trading day at 8,293.3. The S & P 500 slipped 0.16% to close at 3,020.97.
Meanwhile, the US-China trade talks are expected to be held in Shanghai this week as the two economic powers seek to reach an agreement ending an extended trade dispute.
Investors are also waiting for the decision of the Federal Reserve on interest rates, to be announced Wednesday in the United States. The central bank is expected to significantly lower its benchmark lending rate for the first time since 2008 by 25 basis points.
The US dollar index, which compares the greenback to a basket of peers, was at 98.108 after rising from below 98.0 yesterday.
The Australian dollar has changed hands at 0.6905 USD following the decline in levels above 0.702 USD observed last week.
Oil prices rose in the morning hours of Asian trading as Brent crude futures rose 0.46% to $ 64.00 a barrel and US crude futures rose 0% 55% to $ 57.18 per barrel.
Here is a preview of what awaits us today:
- China: Huawei Half Year Accounts
- South Korea: earnings of Samsung SDI and LG Electronics
- Hong Kong: Hang Lung Group, Hang Lung properties, benefit of IMAX China
- Japan: Profit from Sony, ANA Holdings, Mitsubishi Electric, SMFG and Nintendo
– Thomas Franck of CNBC contributed to this report.
Source link
