Stocks in Asia were seen climbing on Thursday after the Federal Reserve meeting minutes were released as well as HSBC’s manufacturing Purchasing Managers Index (PMI) from China, which came in higher than expected.
“The minutes of the April FOMC meeting point to a Fed whose relatively upbeat assessment on the economic outlook remained largely intact, though growing concerns about the slowing in the housing sector (along with weakening growth in China and geopolitical tensions in Ukraine) indicated the potential for a shift in the perceived balance of risks to the downside,” Millan Mulraine of TD Securities said in a note Thursday morning. “In particular, the minutes noted that the view on the recovery “had not changed since the March meeting” and the Fed continues to see the risks to the outlook as “fairly balanced”.”
Japan
The Japanese benchmark Nikkei 225 index rallied 2.14% to 14,342.50 points, while Tokyo’s Topix index gained 1.60% to 1,168.46 points at the same time. The nation’s yen dropped below the 101 yen level seen on Wednesday.
The Japanese motor company, Suzuki Motors saw the most gains on the Nikkei index, rising 3.9% higher at the time of writing, while Mazda Motors edged 3.16% higher.
China
Hong Kong’s Hang Seng index gained 0.87% to 23,035.00 points, while the mainland Chinese benchmark Shanghai Composite rose 0.41% higher to 2,033.25 points at the time of writing.
The Chinese flash Purchasing Managers’ Index (PMI) released by HSBC Holdings and Markit Economics showed a preliminary reading of 49.7 in May, rising from the previous figure of 48.1 seen in April and beating analysts’ estimates. A reading above 50 indicates expansion, while a reading below signifies contraction.
Overnight, the Chinese government finalized a deal with Russia to supply natural gas to China for the next ten years, estimated to be worth approximately $400 billion.
The South Korean Kospi index rose 0.55% to 2,019.36 points. While the Australian benchmark S&P/ASX edged 1.19% higher at 5,489.00 points.
Stocks – Europe
European stocksopened higher on Thursday, rising for a second day before the release of the flash PMIs for Germany and the eurozone, due later in the day.
The European Euro Stoxx 50 climbed 0.20% higher, trading at 3,191.00, while the German DAX gained 0.28% to 9,725.50. At the same time the French CAC 40 climbed 0.08% to begin trading the session at 4,472.80, while the UK‘s benchmark FTSE 100 added 0.17%, trading at 6,832.80.
Fed Minutes
On Wednesday, minutes from the Federal Open Market Committee’s April 29-30 meeting showed that fed policy makers expect the inflation target to remain below the long-term 2% target. Last month the central bank said the US economy was showing signs of a steady pace of growth and the job market is improving.
Visitwww.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
Stocks – Asia
Stocks in Asia were seen climbing on Thursday after the Federal Reserve meeting minutes were released as well as HSBC’s manufacturing Purchasing Managers Index (PMI) from China, which came in higher than expected.
“The minutes of the April FOMC meeting point to a Fed whose relatively upbeat assessment on the economic outlook remained largely intact, though growing concerns about the slowing in the housing sector (along with weakening growth in China and geopolitical tensions in Ukraine) indicated the potential for a shift in the perceived balance of risks to the downside,” Millan Mulraine of TD Securities said in a note Thursday morning. “In particular, the minutes noted that the view on the recovery “had not changed since the March meeting” and the Fed continues to see the risks to the outlook as “fairly balanced”.”
Japan
The Japanese benchmark Nikkei 225 index rallied 2.14% to 14,342.50 points, while Tokyo’s Topix index gained 1.60% to 1,168.46 points at the same time. The nation’s yen dropped below the 101 yen level seen on Wednesday.
The Japanese motor company, Suzuki Motors saw the most gains on the Nikkei index, rising 3.9% higher at the time of writing, while Mazda Motors edged 3.16% higher.
China
Hong Kong’s Hang Seng index gained 0.87% to 23,035.00 points, while the mainland Chinese benchmark Shanghai Composite rose 0.41% higher to 2,033.25 points at the time of writing.
The Chinese flash Purchasing Managers’ Index (PMI) released by HSBC Holdings and Markit Economics showed a preliminary reading of 49.7 in May, rising from the previous figure of 48.1 seen in April and beating analysts’ estimates. A reading above 50 indicates expansion, while a reading below signifies contraction.
Overnight, the Chinese government finalized a deal with Russia to supply natural gas to China for the next ten years, estimated to be worth approximately $400 billion.
The South Korean Kospi index rose 0.55% to 2,019.36 points. While the Australian benchmark S&P/ASX edged 1.19% higher at 5,489.00 points.
Stocks – Europe
European stocksopened higher on Thursday, rising for a second day before the release of the flash PMIs for Germany and the eurozone, due later in the day.
The European Euro Stoxx 50 climbed 0.20% higher, trading at 3,191.00, while the German DAX gained 0.28% to 9,725.50. At the same time the French CAC 40 climbed 0.08% to begin trading the session at 4,472.80, while the UK‘s benchmark FTSE 100 added 0.17%, trading at 6,832.80.
Fed Minutes
On Wednesday, minutes from the Federal Open Market Committee’s April 29-30 meeting showed that fed policy makers expect the inflation target to remain below the long-term 2% target. Last month the central bank said the US economy was showing signs of a steady pace of growth and the job market is improving.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The post Stocks Market Report May 22 appeared first on | HY Markets Official blog.
Related Posts: