Equities in Asia ended the session mostly in positive territory on Monday, after markets digested the rising geopolitical tensions in Korean Peninsula and the release of downbeat economic data in China.
In Mainland China, Equities finished the session in the green with, the Shanghai Composite closing higher by 0.61 percent, or 19.79 points at 3,273.3 and the Shenzhen Composite rose by 0.57 percent, or 10.72 points, to settle at 1,879.10 at the close. Meanwhile, Hong Kong main benchmark Hang Seng Index surged by 1.28 percent, or 344.60 points to trade at 27,323.99 after hours.
Regarding economic data in China, official manufacturing PMI for July settled at 51.4, below the expectation of 51.6. The July reading was also below the previous month figure of 51.7. On the other hand, the official services PMI showed a value of 54.5 compared to June’s 54.9 reading.
Elsewhere in Japan, equities fell on Monday’s session as geopolitical tension in Korean peninsula weighed on prices, the consistent missile launch tests conducted by North Korea has resulted in geopolitical instability in the region. The recent missile test showed the United States is now within North Koreas missile range.
Japans main benchmark Nikkei 225 fell by 0.17 percent on Monday and falling by 0.5% in July to settle at 19,925.18 at the close.
Economic data in Japan showed a rise in June industrial production of 1.6 percent compared to analyst estimates of a rise of 1.7 percent.
Looking at the stock specific news, Japan Airlines reported an increase of 12 percent in the first-quarter earnings to 223.4 million dollars (24.7 billion Yen). The firm also changed its earnings forecast for the year to 153 billion yen from a previous earnings forecast of 142 billion yen.
Meanwhile in Australia, Aussie stock ended Monday’s trading session in positive territories. Australian stock market index ASX 200 added 0.31 percent to settle at 5,720.59. The Aussie index found support from gains in commodity stocks as BHP Billiton rose by 2.05 percent and Rio Tinto advanced 2.41 percent.
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