Asia rallies 1% at the open

2020-06-30 07:59:36 GMT (Economies.com)
Asia rallies 1% at the open

Asian stock indices opened the second session of the week and the last session of June higher following data from major Asian economies and amid hopes for some recovery in the second half from the coronavirus pandemic, while stocks still marked a 7% loss in the first half of the year. 

 

Earlier Chinese data showed the manufacturing PMI up to 50.9 from 50.6 in May, while the services PMI rose to 54.4 from 53.6. 

 

Earlier Japanese data showed industrial output fell 8.4% in May, compared to a 9.8% drop in April, and missing estimates of a 5.6% drop.

 

Japan's unemployment rose to 2.9% from 2.6% in April, while housing starts fell 12.3% in May. 

 

The World Health Organization warned "the worst hasn't come yet" in the pandemic, as it continues to accelerate and spread. 

 

Federal Reserve Chair Jerome Powell will testify, along with Treasury Secretary Steven Mnuchin, before the House Financial Services Committee, in Washington DC.

 

In an earlier testimony last week, Powell warned of permanent job losses while expecting no full recovery from the pandemic before confidence is restored. 

 

Japan's TOPEX rallied 1.13%, while Nikkei 225 rallied 1.67% to 22,361. 

 

China's CSI 300 powered up 1.08%, while Shanghai climbed 0.58% to 2,978. 

 

Hong Kong's Hang Seng rose 0.81%, while South Korea's KOSPI powered up 1.74% to 2,129. 

 

New Zealand's NZX 50 rose 1.76%, while Australia's S&P/ASX 200 gained 1.39% to 5,896. 

 
 
 
  Symbol Last Change Chg.%
1.1246
-0.0031
0.2718%
1.2486
0.0178
1.4462%
Tadawul
7312.24
58.91
0.81%
18.047
0.268
1.507%
40.285
1.510
3.894%
42.80
-0.34
0.79%
1774.730
3.115
0.176%
 
 
US
 
Europe
 
Asia