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Equities over Asia

Discussion in 'Forex Daily News & Outlook' started by honeyks, Aug 2, 2010.

  1. honeyks

    honeyks New Member

    Feb 26, 2010
    Likes Received:
    Equities over Asia are modestly higher this morning as investors put aside weak Chinese data and instead focused on strong quarterly earnings. Nearing the closing bell, the Nikkei Average is up a mere 35 points or 0.36%, while the Hang Seng and Shanghai Comoposite are posting robust gains of 1.30% and 1.22% respectively.

    Fundamentally, China’s HSBC PMI dropped below the “boom-bust” line of 50 over July, notching a figure of 49.4 compared to 50.4 the month prior. While the reading signals a slowdown over the Asian giant, HSBC noted the index was consistent with annual growth in Chinese industrial production, and investors seem to be taken the downbeat data in stride.
    by http://onlinetradingttips.blogspot.com/

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