Asian stocks closed higher on Friday session, extending gains from the previous session, following the overnight rebound on Wall Street as investors shifted focus to the upcoming corporate earnings season amid a lack of escalation in U.S. and China trade tensions

Asian stocks closed higher on Friday session, extending gains from the previous session, following the overnight rebound on Wall Street as investors shifted focus to the upcoming corporate earnings season amid a lack of escalation in U.S. and China trade tensions

July 15, 2018 0 By Ali Hwary

Asian stocks closed higher on Friday session, extending gains from the previous session, following the overnight rebound on Wall Street as investors shifted focus to the upcoming corporate earnings season amid a lack of escalation in U.S. and China trade tensions.

Moreover, Friday’s extended recovery in markets also followed the relative calm on the trade front overnight, with the Chinese commerce ministry saying Thursday that China had not been in touch with the U.S. about restarting trade talks.

Furthermore, U.S. Treasury Secretary Steven Mnuchin said Yesterday that bilateral talks on trade could resume on the condition that China was open to making “serious efforts” to change.

Over to Mainland China, the Shanghai Composite fell 0.22 percent to close the session at 2,831.55, but the smaller Shenzhen composite gained 0.46 percent to end the session at 1,604.45.

Hong Kong’s main benchmark Hang Seng rose by 0.16 percent to trade at 28,525.44 at the close, supported by gains in the Consumer Non-Cyclicals, Technology, and Healthcare sectors.

Meanwhile, South Korean benchmark KOSPI added 1.13 percent to end the session at 2,310.90 supported by significant gains in Technology, Energy, and Financials sectors.

In stocks news, Haein Corp was the best performer in the session, surging 12.28 percent followed by F&F Co Ltd which added 10.34 percent.

Japanese Stock Market: Nikkei 225

Japan’s Nikkei 225, surged 1.85 percent, or 409.39 points, to close the session at 22,597.35. As stocks extended Thursday’s gains, with the yen weaker on the day.

In the economic space, Japan will see final May numbers for industrial production and capacity utilization today.

Meanwhile, the best performers of the session the Nikkei 225 were Tokai Carbon Co Ltd, which surged more than 7 percent or 146 points to trade at 2,144.0 at the close. Meanwhile, Fast Retailing Co Ltd added 6.95 percent or 3420 points to end at 52,650,0 and Recruit Holdings Co Ltd rose by 5 percent or 149 points to close the session at 3,127.0.

On the flip side, the weakest performers of the session were Concordia Financial Group Ltd, which dropped 8.53 percent or 74 points to trade at 504.0 at the close, while Yaskawa Electric Corp  lost 3.95 percent or 160 points to end at 3,890.0 and FamilyMart UNY Holdings Co Ltd, was down by 2.38 percent or 270 points to end the session at 11,070.0.

In the forex space, the Japanese Yen dropped against the U.S. dollar on Friday USDJPY the U.S. Dollar is trading in the upper 112 yen, USDJPY traded in 112.60 at 11:00 GMT.

 

Australian Stock Market: ASX200

Australian shares were unchanged at the close of Friday’s session. The S&P/ASX 200 index, close the session at 6,268.400.

In the banking space, ANZ Banking, Westpac, National Australia Bank and Commonwealth Bank are lower in a range of 04 percent to 0.5 percent.

While, the best performers of the session on the S&P/ASX 200 were Mineral Resources Ltd, which surged 5.04  percent or 0.77 points to close the session at 16.040. Meanwhile, WiseTech Global Ltd added 4.74 percent or 0.81 points to end the session at 17.900, and Sigma Healthcare Ltd rose by 3.26 percent or 0.015 points to close the session at 0.475.

On the other hand, the weakest performers of the session were Southern Cross Media Group Ltd, which fell by 4.12 percent or 0.055 points to trade at 1.280 at the end of the session. GWA Group Ltd lost 3.74 percent or 0.13 points to end the session at 3.350 and Pilbara Minerals Ltd, was down by 3.17 percent or 0.035 points to end the session at 1.070.

In the currency market, the Australian Dollar fell against the U.S. dollar on Friday; AUDUSD traded at 0.7374 at 11:00 GMT.

 

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