Asian Stocks Start the First Weekly Trading Session as Positive
The first session of the week was mixed across the board, with Japanese and Chinese stock indices up nearly 1%, Hong Kong stocks up more than 1%. New Zealand and Australian stocks are showing positive stability and South Korea’s stock indexes are flat on Monday.
The People’s Bank of China (CBB) has announced that it is changing its methodology to determine the daily average points of the Chinese yuan as part of its efforts to stabilize the currency market.
China’s trade talks with the United States last weekend did not eventually prevent the entry of new US customs tariffs, 25% on Chinese goods worth $ 16 billion, into force last Thursday, and China responded similarly in an escalation of protectionism between the largest Economists in the world, bringing the total goods that are subject to customs tariffs by the two countries to each other about $ 50 billion.
Japan’s Nikkei 225 index gained 0.87% to 195.52 points, reaching 22,797.29. The Japanese Nikkei 225 index gained 0.90% to close at 1,724.66.
As for the Chinese stock indices rose during the day, where the CSI 300 index rose by 0.88% to gain 29.19 points and reach the level of 3,354.52. While the Shanghai index rose 0.62% to gain 16.93 points and reach the level of 2,746.36.
Hong Kong’s Hang Seng Index gained 1.22 percent to 338.89 points, reaching 28,010.76. While the South Korea’s Kospi index fell 0.06% to lose 1.46 points and reach 2,291.75.
The NZZ 50 index of New Zealand shares rose 0.15% to 14.02 points to 9,173.65. On the other hand, Australia’s S & P / ASX 200 index gained 0.13% to gain 8.07 points and reach 6.2555.40.