Asian stocks were seen trading higher on Friday as the global market was boosted comments over the conflict between Russia and Ukraine possibly ending soon.
The Japanese Nikkei 225 index rose 0.02% to 15,318.34 at the time of writing, while Tokyo’s Topix index fell 0.03% lower to 1,270.13 at the same time.
The Japanese transportation company Kawasaki Kisen Kaisha saw the most gains on the Nikkei 225 index, with shares climbing 4.50%, while the railway company Keikyu gained 2.9% to 945 yen after reports that the company is aiming to get into casino managements in Japan. The oil companies Inpex and Showa Shell Skiyu KK slid by 2.72% and 2.63% respectively.
This week reports from the nation’s cabinet office showed that Japan’s economy contracted at an annualized 6.8% in the quarter ended June ad contracted 1.7% in the second quarter. The contraction was the sharpest in five years.
Hong Kong Hang Seng index jumped 0.66% to 24,968.12, while China’s benchmark Shanghai Composite gained 1.03% to 2,227.63.
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The communications company China Mobile saw the most gains during the session in Hong Kong, with shares rising 5.32%, after saying its first-half financial results came in line with estimates, while Parkson Retail shares rose 15% to HK$2.79 after posting its first-half net income figures as it came in at 252.9 million yuan, exceeding estimates of 226 million yuan made by analysts. On the downside, the instant noodle maker Tingyi fell 1.29%.
This week, reports from the National Bureau of statistics (NBS) showed that the industrial production in China came in at an annualized 9% in July, missing estimates of a 9.2% growth rate.
Markets in Korea were closed on Friday for a public holiday, while the Australian benchmark S&P/ASX 200 index advanced 0.43% to 5,572.10.
On Thursday, the Russian President Vladimir Putin spoke in annexed Crimea as he expressed his support to end the ongoing conflict Ukraine.
“We will do everything in our power so that this conflict is ended as soon as possible, so that the blood can stop flowing in Ukraine,” Putin said.
The European Union foreign ministers are expected to meet in Brussels to hold talks over the ongoing geopolitical unrest.
Stocks in the European region were seen trading higher on Friday as investors focus on the gross domestic product (GDP) for the UK due later in the day.
The European Euro Stoxx 50 jumped 0.33% to 3,068.14 at the time of writing, while the French CAC 40 rose 0.26% to 4,216.20 at the same time. The German DAX gained 0.34% to 9,256.59 and UK’s benchmark FTSE 100 added 0.48% to 6,717.61.
Meanwhile, the monetary union’s gross domestic product (GDP) in the quarter till June remained unchanged from the previous quarter’s 0.2% growth, according to the Eurostat, the European Union’s statistics office based in Luxembourg.
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