Asian stocks closed higher on Monday, as investors continued to keep an eye on trade after the U.S. and China exchanged tariffs last week.

Asian stocks closed higher on Monday, as investors continued to keep an eye on trade after the U.S. and China exchanged tariffs last week.

July 10, 2018 0 By Ali Hwary

Asian stocks closed higher on Monday, as investors continued to keep an eye on trade after the U.S. and China exchanged tariffs last week.

Moreover, U.S. President Donald Trump said on Friday that an additional 16 billion Dollars worth of Chinese goods would be subject to tariffs in two weeks and that he was also considering slapping further duties on an additional 500 billion Dollars worth of Chinese products.

Over to Mainland China, the Shanghai Composite surged 2.49 percent to close the session at 2,815.51, while the smaller Shenzhen composite gained 2.51 percent to end the session at 1,574.54.

Meanwhile, Hong Kong’s Hang Seng rose by 1.32 percent to trade at 28,688.50 at the close, supported by gains across all sectors.

Furthermore, South Korean benchmark KOSPI added 0.57 percent to end the session at 2,285.80 supported by significant gains in Technology, Healthcare and Financials sectors.

In stocks news, Sempio Co was the best performer in the session, surging 29.97 percent followed by Samwha Electronics Co Ltd which added 29.90 percent.

Japanese Stock Market: Nikkei 225

 

Japan’s Nikkei 225, rose by 1.21 percent, or 264.04 points, to close the session at 22,052.18. as gains in all sectors

In the economic space, the Bank of Japan said that overall bank lending in Japan rose by 2.2 percent on year in June, coming in at 524.847 trillion yen. That follows the 2.0 percent gain in May.

Meanwhile, the best performers of the session on the Nikkei 225 were Eisai Co Ltd, which surged more than 16 percent or 1504 points to trade at 10,710 at the close. Meanwhile, Taiyo Yuden Co Ltd added 8.54 percent or 270.0 points to end at 3,430, and Fujitsu Ltd rose by 4.99 percent or 34.0 points to close the session at 732.6.

On the flip side, the weakest performers of the session were Nissan Motor Co Ltd, which fell by 4.56 percent or 48 points to trade at 1,003.5 at the close, while Otsuka Holdings Co Ltd lost 3.65 percent or 184 points to end at 4,851.0 and Tokai Carbon Co Ltd, was down by 3.64 percent or 73 points to end the session at 1,935.0.

In the forex space, the Japanese Yen fell against the U.S. dollar on Monday USDJPY traded at 110.43 at 15:00 GMT.

 

Australian Stock Market: ASX200

 

Australian shares were higher after the close on Monday session, as gains in the Metals, Mining and Materials and Resources sectors led shares higher.

The S&P/ASX 200 index gained 13.700  points, or 0.22 percent to close the session at 6,286.000.

In the corporate space, Yancoal Australia saw its share price surge more than 3 percent, after the firm announced that it has redeployed the majority of its workforce of more than 200 from its Austar coal mine in NSW as the miner waits for regulators to decide whether it can reopen the mine following a rock blast in May.

the best performers of the session on the S&P/ASX 200 were Pilbara Minerals Ltd, which surged 5.88  percent or 0.055 points to close the session at 0.990. Meanwhile, Australian Pharmaceutical added 4.07 percent or 0.06 points to end the session at 1.535 and Vocus Group Ltd rose by 3.78 percent or 0.09 points to close the session at 2.470.

On the other hand, the weakest performers of the session were Domino’s Pizza Enterprises Ltd, which fell by 3.77 percent or 1.85 points to trade at 47.220 at the end of the session. Caltex Australia Ltd lost 2.68 percent or 0.86 points to end the session at  31.210 and Seven West Media Ltd, was down by 2.26 percent or 0.02 points to end the session at 0.865.

In the currency market, the Australian dollar advanced against the U.S. dollar on Monday; AUDUSD traded at 0.7473 at 15:00 GMT.

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