Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Stock market today: Asian stocks log modest gains as economic data are mixed for Japan and China

Asian stocks were mostly higher on Monday after Japan and China reported data reflecting relatively sluggish growth for Asia’s two largest economies.

The euro rose after the far-right National Rally gained a strong lead in first-round legislative elections, while the Japanese yen fell, trading at about 161 yen to the dollar. U.S. futures and oil prices rose.

Polling agencies suggest the National Rally might win a majority in the lower house of the parliamentary, but the outcome is uncertain and the voting system is complex.

The euro cost $1.0757, up from $1.0713.

U.S. futures and oil prices rose.

Japan’s benchmark Nikkei 225 added 0.3% to 39,693.29 after a quarterly survey by the Bank of Japan, called the “tankan,” showed a modest improvement in confidence among the country’s largest manufacturers in the April-June quarter.

However the government downgraded its estimate for growth in the first quarter of the year, to a minus 2.9% annual rate from the earlier figure of minus 1.8%.

“Across all industries and firm sizes, business conditions held steady at 12, which is on past form consistent with (quarterly) GDP growth of around 0%,” Marcel Thieliant of Capital Economics said in assessing the tankan. “A renewed slowdown in GDP growth this quarter would be consistent with the slump in industrial production firms were predicting for June.”

The Shanghai Composite climbed 0.3% to 2,976.64 after a survey of factory purchasing managers reported over the weekend showed conditions remained in contraction for a second straight month.

But a similar private-sector survey of manufacturing activity released Monday showed an improvement in business conditions. The Caixin Manufacturing PMI rose to 51.8 in June on a scale up to 100, compared

Read more on apnews.com
DMCA