Stocks in Asia were seen climbing on Monday, boosted by China’s trade figures and Japan’s upbeat GDP report, while the US employment supported the outlook for the global economy.
Japan
The Japanese benchmark Nikkei 225 index rose 0.48% higher, closing at 15,124.00 points, while Tokyo’s Topix index added 0.27%, ending the session at 1,237.93 points.
The nation’s economy expanded by 1.6% in the first quarter, higher than the 1.5% growth seen in the initial report, official reported confirmed over the weekend.
Reports for Japan’s current account data revealed a surplus for the first time in eight months in April, coming in at 130.5 billion yen, compared to the deficit of 782.9 billion recorded in March.
The electronic manufacturers Panasonic and Alps Electric saw the most gains during the session, rising 2.81% and 2.64% respectively, while Sumco slid 4.27% lower.
China
Hong Kong’s Hang Seng index gained 0.61% to 23,090.70 points at the time of writing, while the Chinese mainland Shanghai Composite rose 0.25% to 2,024.94 points.
Chinese exports climbed higher than expected to 7% in May from 0.9% seen in the previous month, while the nation’s imports fell 1.6% in May, lower than estimates of a 6% growth in May, reports showed.
China’s trade surplus grew to US$35.9 billion in May, compared to the $18.5 billion seen in the previous month, reports from the Customs General Administration of China showed over the weekend.
The South Korean benchmark Kospi index slid 0.27% to 1,990.06 points, while markets in Australia were closed on Monday for the Queen’s Birthday holiday.
US Economy
Stocks were also boosted by the US-nonfarm payrolls report which revealed an addition of 217,000 jobs in the US economy in May, surpassing analysts’ forecast of 215,000 jobs and signifying a fourth month of gains of over 200,000 jobs but lower than the previous figure of 282,000 new jobs seen in April.
“The market concluded the data was just right: weak enough to support the Fed’s plan to keep monetary conditions highly stimulatory, but strong enough to suggest the economic recovery remains on track,” ANZ economists said in a note this morning.
Stocks – Europe
European stocks advanced on Monday as the German DAX climbed to a record high.
The European Euro Stoxx climbed 0.05% to 3,295.92 at the time of writing, while the German DAX gained 0.07% to 9,994.29. At the same time the French CAC 40 slid 0.03% lower, trading at 4,579.65, while UK’s benchmark FTSE 100 edged 0.21% higher to 6,872.53.
The European Central Bank (ECB) reduced its key interest rate from its previous all-time low of 0.25% to 0.15% and lowered the deposit rate to minus 0.1% at its policy meeting on Thursday.The central bank is expected to release its monthly bulletin later this week, showing the statistical data that the ECB Governing Board evaluation made for its recent interest rate cut.
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Stocks – Asia
Stocks in Asia were seen climbing on Monday, boosted by China’s trade figures and Japan’s upbeat GDP report, while the US employment supported the outlook for the global economy.
Japan
The Japanese benchmark Nikkei 225 index rose 0.48% higher, closing at 15,124.00 points, while Tokyo’s Topix index added 0.27%, ending the session at 1,237.93 points.
The nation’s economy expanded by 1.6% in the first quarter, higher than the 1.5% growth seen in the initial report, official reported confirmed over the weekend.
Reports for Japan’s current account data revealed a surplus for the first time in eight months in April, coming in at 130.5 billion yen, compared to the deficit of 782.9 billion recorded in March.
The electronic manufacturers Panasonic and Alps Electric saw the most gains during the session, rising 2.81% and 2.64% respectively, while Sumco slid 4.27% lower.
China
Hong Kong’s Hang Seng index gained 0.61% to 23,090.70 points at the time of writing, while the Chinese mainland Shanghai Composite rose 0.25% to 2,024.94 points.
Chinese exports climbed higher than expected to 7% in May from 0.9% seen in the previous month, while the nation’s imports fell 1.6% in May, lower than estimates of a 6% growth in May, reports showed.
China’s trade surplus grew to US$35.9 billion in May, compared to the $18.5 billion seen in the previous month, reports from the Customs General Administration of China showed over the weekend.
The South Korean benchmark Kospi index slid 0.27% to 1,990.06 points, while markets in Australia were closed on Monday for the Queen’s Birthday holiday.
US Economy
Stocks were also boosted by the US-nonfarm payrolls report which revealed an addition of 217,000 jobs in the US economy in May, surpassing analysts’ forecast of 215,000 jobs and signifying a fourth month of gains of over 200,000 jobs but lower than the previous figure of 282,000 new jobs seen in April.
“The market concluded the data was just right: weak enough to support the Fed’s plan to keep monetary conditions highly stimulatory, but strong enough to suggest the economic recovery remains on track,” ANZ economists said in a note this morning.
Stocks – Europe
European stocks advanced on Monday as the German DAX climbed to a record high.
The European Euro Stoxx climbed 0.05% to 3,295.92 at the time of writing, while the German DAX gained 0.07% to 9,994.29. At the same time the French CAC 40 slid 0.03% lower, trading at 4,579.65, while UK’s benchmark FTSE 100 edged 0.21% higher to 6,872.53.
The European Central Bank (ECB) reduced its key interest rate from its previous all-time low of 0.25% to 0.15% and lowered the deposit rate to minus 0.1% at its policy meeting on Thursday.The central bank is expected to release its monthly bulletin later this week, showing the statistical data that the ECB Governing Board evaluation made for its recent interest rate cut.
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