Stocks in the Asian region was seen trading mixed on Tuesday with Japanese stocks leading gains while China reported a rise in the nation’s manufacturing gauge, rising to a six-month high in June.
Japan
The Japanese benchmark Nikkei 225 index rallied 1.08%, closing the session at 15,326.20 points, while Tokyo’s Topix index advanced 1.08% higher at 1,276.17 points. In Japan, Pacific Metals saw the most gains during the session as shares climbed 5.27%, while the seafood company Maruha Nichiro slid 1.69% lower.
The Bank of Japan’s Tankan index fell to 12 points in the June quarter, compared to the previous figure of 17, while analysts forecasted a reading of 15. The survey showed that companies increased their investment plans more than forecasted and conditions are expected to improve in the September quarter, with a forecast of 15 points.
Meanwhile the Cabinet Office’s Business Outlook Survey predicts that conditions will recover through the fourth quarter. The central bank’s report revealed that large companies in Japan plan to increase capital spending by 7.4% this fiscal year through March, up from the0.1% rise seen in the three months earlier.
China
Hong Kong’s Hang Seng Index was closed while the Chinese benchmark Shanghai Composite fell 0.05% lower to 2,047.32 points at the time of writing.
China’s Purchasing Mangers’ Index (PMI) expanded to 51 points in June, the highest in six months, meeting in line with estimates and compared to the previous reading of 50.8 in May, the National Bureau of statistics and China Federation of Logistics and Purchasing said today.
HSBC’s purchasing managers’ index rose to 50.7 in June from 49.4 recorded in the previous month. Meanwhile export orders climbed for the second consecutive month. The South Korean Kospi index fell 0.16% lower, ending the session at 1,999.00 points.
Australia
In Sydney, the benchmark S&P/ASX 200 index fell 0.43% to 5,372.80 points. In Australia, gold producer Northern star resources advanced 3.57% higher, while the agricultural chemicals company Nufarm slid 3.87% lower.
The Reserve Bank of Australia (RBA) kept its cash-rate unchanged at 2.5% on Tuesday, maintaining stability in interest rates to boost the economy, which the bank suggests would be easier if the nation’s currency was weakened.
“The exchange rate remains high by historical standards, particularly given the declines in key commodity prices, and hence is offering less assistance than it might in achieving balanced growth in the economy,” RBA Governor Glenn Stevens said in a statement.
European Stocks
Stocks in Europe were seen trading higher on Tuesday as the market awaits final manufacturing PMIs for June as well as labour reports from Germany, Italy and the Eurozone. The European Euro Stoxx 50 added 0.27%, opening at 3,237.03, while the German DAX gained 0.22% to 9,854.75. The French CAC 40 edged up 0.28% to 4,435.32, while UK’s benchmark FTSE 100 rose 0.17% to 6,755.11.
Economic Reports
Germany’s manufacturing PMI for June is expected to slightly rise to 52.4 from the previous reading of 52.3, while the nation’s unemployment rate is seen unchanged at 6.7%.
In Italy, the manufacturing reading for this month is expected to remain unchanged at 53.2, while Italy’s jobless rate is expected to come in at 12.6% in May, the same as the previous month.
Spain is expected to report a reading of 53 for its manufacturing sector, while the Eurozone is forecasted to post a reading of 51.9 points in June. The unemployment rate for the eurozone is predicted to come in at 11.7%.
Deposit $100 get $100 absolutely FREE! Register with HY Markets today.
Asian Stocks
Stocks in the Asian region was seen trading mixed on Tuesday with Japanese stocks leading gains while China reported a rise in the nation’s manufacturing gauge, rising to a six-month high in June.
Japan
The Japanese benchmark Nikkei 225 index rallied 1.08%, closing the session at 15,326.20 points, while Tokyo’s Topix index advanced 1.08% higher at 1,276.17 points. In Japan, Pacific Metals saw the most gains during the session as shares climbed 5.27%, while the seafood company Maruha Nichiro slid 1.69% lower.
The Bank of Japan’s Tankan index fell to 12 points in the June quarter, compared to the previous figure of 17, while analysts forecasted a reading of 15. The survey showed that companies increased their investment plans more than forecasted and conditions are expected to improve in the September quarter, with a forecast of 15 points.
Meanwhile the Cabinet Office’s Business Outlook Survey predicts that conditions will recover through the fourth quarter. The central bank’s report revealed that large companies in Japan plan to increase capital spending by 7.4% this fiscal year through March, up from the0.1% rise seen in the three months earlier.
China
Hong Kong’s Hang Seng Index was closed while the Chinese benchmark Shanghai Composite fell 0.05% lower to 2,047.32 points at the time of writing.
China’s Purchasing Mangers’ Index (PMI) expanded to 51 points in June, the highest in six months, meeting in line with estimates and compared to the previous reading of 50.8 in May, the National Bureau of statistics and China Federation of Logistics and Purchasing said today.
HSBC’s purchasing managers’ index rose to 50.7 in June from 49.4 recorded in the previous month. Meanwhile export orders climbed for the second consecutive month. The South Korean Kospi index fell 0.16% lower, ending the session at 1,999.00 points.
Australia
In Sydney, the benchmark S&P/ASX 200 index fell 0.43% to 5,372.80 points. In Australia, gold producer Northern star resources advanced 3.57% higher, while the agricultural chemicals company Nufarm slid 3.87% lower.
The Reserve Bank of Australia (RBA) kept its cash-rate unchanged at 2.5% on Tuesday, maintaining stability in interest rates to boost the economy, which the bank suggests would be easier if the nation’s currency was weakened.
“The exchange rate remains high by historical standards, particularly given the declines in key commodity prices, and hence is offering less assistance than it might in achieving balanced growth in the economy,” RBA Governor Glenn Stevens said in a statement.
European Stocks
Stocks in Europe were seen trading higher on Tuesday as the market awaits final manufacturing PMIs for June as well as labour reports from Germany, Italy and the Eurozone. The European Euro Stoxx 50 added 0.27%, opening at 3,237.03, while the German DAX gained 0.22% to 9,854.75. The French CAC 40 edged up 0.28% to 4,435.32, while UK’s benchmark FTSE 100 rose 0.17% to 6,755.11.
Economic Reports
Germany’s manufacturing PMI for June is expected to slightly rise to 52.4 from the previous reading of 52.3, while the nation’s unemployment rate is seen unchanged at 6.7%.
In Italy, the manufacturing reading for this month is expected to remain unchanged at 53.2, while Italy’s jobless rate is expected to come in at 12.6% in May, the same as the previous month.
Spain is expected to report a reading of 53 for its manufacturing sector, while the Eurozone is forecasted to post a reading of 51.9 points in June. The unemployment rate for the eurozone is predicted to come in at 11.7%.
Deposit $100 get $100 absolutely FREE! Register with HY Markets today.
http://fb.me/19wnduzNy
The post Stocks Market Report 1st July appeared first on | HY Markets Official blog.
Related Posts: