Stocks – Asia
Stocks across the Asian region were seen swinging between losses and gains on Tuesday, with equities in China boosted by the positive inflation figures in May. While shares in the US climbed to a fresh record high over night.
The Japanese benchmark Nikkei 225 index slid 0.85% lower, closing at 14,994.80, while Tokyo’s Topix index lost 0.65% to 1,226.60.
The Japanese multinational corporation Minebea gained 2.67%, while shares in Oji Holdings lost 3.19%.
China
Hong Kong’s Hang Seng Index edged 0.75% higher to 23,296.06 at the time of writing, while the Chinese benchmark Shanghai Composite added 0.94% to 2,050.77 at the same time.
The oil and gas company China Petroleum & Chemical saw the most gains on the Hang Seng index, rising 2.10% in shares, while the communications group China Unicom gained 1.91%. Casino stocks fell with Galaxy Entertainment sliding 2.73% lower and Sands China falling 2.17% after the Macau Monetary Authority ordered casino shops to remove their UnionPay card terminals by July 1.
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China’s consumer prices climbed by 2.5% in May from the previous year, following the growth of 1.8% recorded in the previous month, the National Bureau of Statistics reported on Tuesday. The figure came in higher than analysts’ estimates of a 2.4% increase in May.
The Producer Price Index (PPI) dropped 1.4% in May year-on-year, following the rise of 2% seen in April and compared to analysts’ forecasts of a 1.5% decline in May.
Meanwhile the People’s Bank of China announced a cut in Reserve Requirement Ratio’s (RRR) on Monday for lenders in Asia’s largest economy to boost domestic demand. Banks with high levels of lending to small business and agricultural firms will see a cut of 0.5% in their RRR as of June, the central bank’s website stated on their website.
Australia
Markets resumed with the benchmark S&P/ASX 200 index edged 0.09% higher, closing at 5,468.70.
ANZ’s Job advertisement series posted a drop of 5.6% in advertised jobs in May, while NAB’s Business Confidence Index came in at 7 points in May and the Business Conditions index slid to -1 from zero.
Stocks – Europe
European stocks were traded mixed on Tuesday as reports for the industrial production in the UK, France and Italy came in line with estimates.
The European Euro Stoxx 50 rose 0.18% to 3,311.05 at the time of writing, while the German DAX climbed 0.16% to 10,024.91, after the gauge reached a record-high of 10,032.99 earlier during the session.
Meanwhile the French CAC added 0.12% to 4,594.27 at the same while, while UK’s benchmark FTSE 100 lost 0.44% to 6,844.51.
Industrial Production
Reports from the National Statistics showed that the Industrial production in the UK climbed 0.4% on a monthly basis, following the rise of 0.1% seen in March.
The release from France’s National Statistics institute showed that the nation’s industrial production rose 0.3% in April on a monthly basis, compared to the 0.4% fall posted in the previous month. France’s manufacturing production rose 0.3% in April.
In Italy, the country’s Industrial output climbed 0.7% in April on a monthly basis, following the 0.4% fall seen in the previous month, reports showed. Meanwhile, on a yearly and workday-adjusted basis it rose 1.6%
A separate report from the Italian Statistical Office showed the nation’s gross domestic product data for the first quarter fell 0.1% on a quarterly basis, compared to the 0.1% rise seen during the last three months last year. While on a year-on-year basis, Italy’s economy contracted 0.5% in the first quarter.
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