Asia opens the month mixed

Asian stock indices opened the first session of the week and month mixed, with Japan, China and Australia higher, while New Zealand, Hong Kong, and South Korea lost ground. 

Earlier Japanese data showed GDP shrank 0.6% q/q in the second quarter, besting estimates of a 0.7% decline. 

GDP prices rose 0.9% y/y as expected, same as the first quarter, while manufacturing PMI rose to 45.2 from 40.1 in June. 

Japan's finance minister Taro Aso described yen's recent surge as "quick", with the government concerned about the impact of a stronger currency on exports. 

Earlier Australian data showed the manufacturing AIG index up to 53.5 from 51.5 in June, while the inflation MI index rose 0.9% in June, up from 0.6% in June.

Congress will decide on a new rescue package against the coronavirus pandemic, with the World Health Organization reporting 17.7 million cases worldwide with 681,000 dead so far. 

Fitch Ratings cut the credit rating of the US from AAA stable to AAA negative, as the deficit surges and political uncertainty mounts.  

US President Donald Trump will announce new measures related to Chinese tech companies, which might be considered a security risk, days after announcing an upcoming move to ban TikTok in the US. 

Japan's TOPEX rallied 1.31%, while Nikkei 225 climbed 1.91% to 22,123. 

China's CSI 300 rose 0.96%, while Shanghai rallied 1% to 3,343. 

Hong Kong's Hang Seng fell 0.94%, while South Korea's KOSPI shed 0.14% to 2,246. 

New Zealand's NZX 50 fell 0.29%, while Australia's S&P/ASX 200 inched up 0.12% to 5,934.