Stocks in Asia were seen trading higher on the last day of the trading week as tensions in Iraq escalated and Chinese industrial output data came in line with market estimates.
“Equity markets finally appeared to sit up and take notice of the chaos in Iraq yesterday a huge, heavily-armed Al Qaeda army is poised to strike Baghdad after seizing an area the size of Portugal,” analysts at Rabobank wrote in a note.
Japan
The Japanese benchmark Nikkei 225 index edged 0.83% higher to close at 15,097.84, while Tokyo’s Topix index gained 0.50% to 1,243.38 at the time of writing.
The Japanese company, Nisshin Steel saw the most gains during the session, climbing 7.73%, while Nitto Denko and the mining equipment manufacturer Komatsu lost over 2% each.
The Bank of Japan maintained its policy of expanding the monetary at a pace of 60 trillion yen to 70 trillion yen per year, as widely expected by analysts.
Reports released earlier in the session showed that Japan’s industrial output fell by 2.8% in April on a monthly basis, while a rise of 3.8% was recorded on an annual basis.
China
Hong Kong’s Hang Seng index climbed 0.65% higher to 23,324.58, while the mainland Chinese benchmark Shanghai Composite gained 0.79% to 2,068.73.
China Merchant Holdings saw the most gains on the Hang Seng Index, adding 4.14% in shares, while the property investor Wharf Holdings gained 2.51% and CNOOC shares rose 2.50% higher.
China’s industrial production figures came in at 8.8% on a yearly basis in May, slightly picking up from the previous reading of 8.7% seen in April.
Meanwhile retail sales in China showed a climb of 12.5% in May, compared to the 11.9% rise seen in the previous month.
Australia
Australia’s benchmark S&P/ASX 200 index slid 0.42% lower at 5,406.10, while New Zealand’s NZX 50 index edged 0.47% lower, closing the session at 5,170.51.
The Australian oil and gas explorer, Drillsearch Energy advanced 6.87%, while the iron ore miners BC Iron and Fortescue Metals lost 6.02% and 5.54% respectively.
Stocks – Europe
European stocks declined on Friday as investors raise worries over the escalating turmoil in Iraq weighed on global stock market.
The European Euro Stoxx 50 slid 0.22% lower to 3,280.50 at the time of writing, while the German DAX lost 0.42% to 9,920.80. The French CAC 40 fell 0.20% to 4,548.30, while UK’s benchmark FTSE 100 declined 0.35% to 6,820.30.
US
Futures for the Standard & Poor’s 500 index gained 0.2% at the time of writing, while the US equity benchmark index lost 0.7% yesterday.
A report from the US Commerce Department showed that retail sales in the US rose 0.3% in May. While a separate report revealed that applications for unemployment benefits in the US increased to 317,000 last week.
The global market are closely watching the situation in Iraq as the tensions worsened and the US President Barack Obama commented on the situation, saying the government is looking at every option, including military action.
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Stocks – Asia
Stocks in Asia were seen trading higher on the last day of the trading week as tensions in Iraq escalated and Chinese industrial output data came in line with market estimates.
“Equity markets finally appeared to sit up and take notice of the chaos in Iraq yesterday a huge, heavily-armed Al Qaeda army is poised to strike Baghdad after seizing an area the size of Portugal,” analysts at Rabobank wrote in a note.
Japan
The Japanese benchmark Nikkei 225 index edged 0.83% higher to close at 15,097.84, while Tokyo’s Topix index gained 0.50% to 1,243.38 at the time of writing.
The Japanese company, Nisshin Steel saw the most gains during the session, climbing 7.73%, while Nitto Denko and the mining equipment manufacturer Komatsu lost over 2% each.
The Bank of Japan maintained its policy of expanding the monetary at a pace of 60 trillion yen to 70 trillion yen per year, as widely expected by analysts.
Reports released earlier in the session showed that Japan’s industrial output fell by 2.8% in April on a monthly basis, while a rise of 3.8% was recorded on an annual basis.
China
Hong Kong’s Hang Seng index climbed 0.65% higher to 23,324.58, while the mainland Chinese benchmark Shanghai Composite gained 0.79% to 2,068.73.
China Merchant Holdings saw the most gains on the Hang Seng Index, adding 4.14% in shares, while the property investor Wharf Holdings gained 2.51% and CNOOC shares rose 2.50% higher.
China’s industrial production figures came in at 8.8% on a yearly basis in May, slightly picking up from the previous reading of 8.7% seen in April.
Meanwhile retail sales in China showed a climb of 12.5% in May, compared to the 11.9% rise seen in the previous month.
Australia
Australia’s benchmark S&P/ASX 200 index slid 0.42% lower at 5,406.10, while New Zealand’s NZX 50 index edged 0.47% lower, closing the session at 5,170.51.
The Australian oil and gas explorer, Drillsearch Energy advanced 6.87%, while the iron ore miners BC Iron and Fortescue Metals lost 6.02% and 5.54% respectively.
Stocks – Europe
European stocks declined on Friday as investors raise worries over the escalating turmoil in Iraq weighed on global stock market.
The European Euro Stoxx 50 slid 0.22% lower to 3,280.50 at the time of writing, while the German DAX lost 0.42% to 9,920.80. The French CAC 40 fell 0.20% to 4,548.30, while UK’s benchmark FTSE 100 declined 0.35% to 6,820.30.
US
Futures for the Standard & Poor’s 500 index gained 0.2% at the time of writing, while the US equity benchmark index lost 0.7% yesterday.
A report from the US Commerce Department showed that retail sales in the US rose 0.3% in May. While a separate report revealed that applications for unemployment benefits in the US increased to 317,000 last week.
The global market are closely watching the situation in Iraq as the tensions worsened and the US President Barack Obama commented on the situation, saying the government is looking at every option, including military action.
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