Arab Today, arab today asia stocks mostly up after china data eyes on fed
Last Updated : GMT 22:51:18
Arab Today, arab today
Arab Today, arab today

Asia stocks mostly up after China data, eyes on Fed

Arab Today, arab today

Arab Today, arab today Asia stocks mostly up after China data, eyes on Fed

Asia stocks
Hong Kong - AFP

Asian markets mostly rose Wednesday after data showed China's economy grew more than expected in the second quarter, although Shanghai and Hong Kong sank on fears the news will likely put off any fresh growth-boosting measures.

Investors are also awaiting testimony later in the day from US Federal Reserve chief Janet Yellen on the bank's plans for hiking interest rates.

Tokyo edged up 0.41 percent by lunch, Sydney gained 0.77 percent and Seoul was 0.33 percent higher, while Singapore added 0.49 percent and Wellington put on 0.72 percent.

But Shanghai sank 2.99 percent and Hong Kong lost 0.44 percent.

China's National Bureau of Statistics said the world's number two economy expanded 7.0 percent year on year in April-June, the same as the previous three months and better than the median forecast of 6.9 percent in an AFP survey of 14 economists.
The data follow a slew of disappointing results that have led to a series of measures -- including four interest rate cuts since November -- to shore up stumbling growth.

But Bernard Aw, a Singapore-based strategist at IG Asia, told Bloomberg News: "The GDP numbers are really good. The better-than-expected GDP reading suggested that Beijing may take its foot off the pedal on more stimulus measures for the time being. This will affect sentiment in the stock market."

Despite the losses in Shanghai, confidence is slowly returning after the massive losses suffered since hitting a June 12 peak. A painful stock sell-off that saw a more than 30 percent fall and spread to other markets was only halted Thursday after authorities unveiled a raft of strict measures to prevent a crash.

Dealers will be closely following Yellen's twice-yearly appearance at Congress to find more clues about monetary policy, with expectations for an interest rate hike by September.
The Fed boss has in the past said she sees rates normalising by the end of the year, and the case for such a move increased Monday with Greece's bailout reform deal that keeps it in the eurozone.

Fed policymakers has been concerned about announcing a hike while there was the possibility of a Greek euro exit, which would hit the global economy.

On Wall Street, the Dow climbed 0.42 percent, the S&P 500 advanced 0.45 percent and the Nasdaq jumped 0.66 percent.

With the likelihood of a rise growing the dollar climbed to 123.44 yen in Tokyo from 123.38 yen in New York.

The euro stood at $1.0997 compared with $1.1008, while it was also at 135.73 yen against 135.82 yen in US trade.

Oil prices edged up. Analysts said an agreement between the West and Iran on the country's nuclear programme -- which will likely see a flood of crude on to global markets as sanctions are lifted -- had largely been factored in by now.

US benchmark West Texas Intermediate for August delivery rose 24 cents to $53.28 and Brent added 25 cents to $58.76.

Gold fetched $1,155.55 compared with $1,154.50 late Tuesday.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asia stocks mostly up after china data eyes on fed Arab Today, arab today asia stocks mostly up after china data eyes on fed

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday