ASIAN MARKET SUMMARY 28/7/2014 Asian stocks were mostly higher today, led by a rally in Chinese markets on optimism about the health of the world’s second-largest economy. Investors and trader continued to monitor geopolitical risks. In Gaza, war subsided on Sunday after Hamas Islamist militants said they backed a 24 hour humanitarian ceasefire in light of the Muslim holiday Eid al-Fitr. More than 1,000 Palestinians have been killed in the 20 day clash. Shanghai stocks jumped over 1 % to new five month highs, rising for a seventh straight day, after industrial profits grew at a stronger pace in the first half compared to 2013, gratitude to an 18 % flow in June from a year ago. The benchmark S&P/ASX 200 index is up 1 point at 5,583.5, after declining to 5,559.9 earlier in the day. The broader All Ordinaries index, which dropped down to around 5,551 earlier, is currently up 0.8 points at 5,576.0. China’s Shanghai Composite added 1.64 % or 34.85 points at 2,160.48. Hong Kong’s Hang Seng jumped 0.57 % or 139.93 points at 24,350.94. Japan’s Nikkei gained 0.51 % or 77.84 points at 15,537.71. South Korea’s Seoul Composite advanced 0.35 % or 7.30 points at 2,040.15. Taiwans Taiwan Weighted was flat at 9,440.72. Singapores Straits Times shut today.
Posted on: Mon, 28 Jul 2014 07:20:58 +0000
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