Asian Stock Market: Scales higher on upbeat Chinese trade data


  • Asian stocks edged higher on Tuesday as investors cheered upbeat Chinese data.
  • US stocks ended higher at record high levels ahead of US CPI data.
  • Japan warned of concerns over Taiwan amid growing risks from US-China tensions.

Asia-pacific stocks locked gains on Tuesday following the record gain on Wall Street as investors awaited the key US inflation data.

US inflation data on Tuesday will  be in particular focus as investors try to assess the inflationary pressure as transitory or persistent, which could alter the Fed’s monetary policy stance.

Market participants look forward to the Fed Chair Jerome Powell speech as he is due to appear before Congress on Wednesday and Thursday.

MSCI’s broadest index of Asia-pacific shares outside Japan rose 0.5%. 

Japan’s Nikkei 225 gained 0.96% near its two-week highs. Prime Minister Yoshihide Suga’s administration put Tokyo under its fourth COVID-19 state of emergency on Monday.

Hong Kong’s Hang Seng Index gained 1.48%, Kospi jumped 0.62%.

The ASX 200 rose 0.61% as investors remained optimistic ahead of the Q2 earring sessions.

The Shanghai Composite gained 0.2% to its near two-week high of 3,566. Investors risk appetite improved after China’s export zoomed 32.2% YoY in June.

Japan raises its concerns over growing military tensions around Taiwan as well as economic and technical rivalry between China and the US. 

 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended content

Editors’ Picks

EUR/USD stays defensive near 1.0700 amid USD strength, EU political jitters

EUR/USD stays defensive near 1.0700 amid USD strength, EU political jitters

EUR/USD is trading close to 1.0700, struggling to build on the previous bounce early Monday. European political uncertainty continues to undermine the Euro and cap the pair's upside. The US Dollar tracks the Treasury bond yields higher amid a cautious mood, weighing on the pair. 

EUR/USD News

GBP/USD remains pressured toward 1.2650 on firmer US Dollar

GBP/USD remains pressured toward 1.2650 on firmer US Dollar

GBP/USD is dropping toward 1.2650 in the European trading hours on Monday. The hawkish Fed expectations and a softer risk tone favor the US Dollar, exerting downward pressure on the pair. Fedspeak remains next in focus. 

GBP/USD News

Gold sellers regain control, eye a sustained move below $2,300

Gold sellers regain control, eye a sustained move below $2,300

Gold price is reversing a part of Friday’s upswing, having faced rejection once again above the $2,330 level early Monday. Gold price fails to benefit from a pause in the US Dollar upsurge, as the US Treasury bond yields recover after last week’s downward spiral.  

Gold News

Bitcoin retesting its major resistance level

Bitcoin retesting its major resistance level

Bitcoin price is retesting its weekly resistance level of $67,147. Ethereum price finds support around $3,321, the price imbalance between $3,146 and $3,498. Ripple price faces rejection due to the key resistance level of $0.499.

Read more

Weekend digest and a quiet start to the week

Weekend digest and a quiet start to the week

It will be a quiet start to the week on the data front. From Sweden, we get the Riksbank's Business Survey. Overnight, the RBA is widely expected to leave monetary policy unchanged. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures