Jimu News reporter Song Qingying
intern Yang Xingnan
According to Associated Press report, on August 17, Asian stock markets were mostly higher as regional markets saw signs of strong growth from the Chinese and U.S. economies.
In front of a securities company in Tokyo (Source: Associated Press)
Japanese, Chinese and Australian stock markets rose in early trading. Japan's benchmark day Meridian 225 Index rose 0.8% to 29,101.33 points in early trading, breaking through the 29,000-point mark for the first time since January 6.
Australia's SP/ASX 200 index rose nearly 0.1% to 7109.50 points. Hong Kong's Hang Seng Index rose 0.5% to 19932.34, while the Shanghai Composite Index edged up 0.2% to 3284.14.
Anderson Alves, an analyst at British trading company "ActivTrades", said: "Expectations for economic growth in China and the United States may still be the key to measuring recession concerns."
The outlier among Asian stock markets is South Korea, which fell slightly, South Korea's Kospi fell 0.76%. Shares of automakers Hyundai Motor Co and Kia Motors fell, ending a three-day rally, as a new plan to end U.S. tax credits fell.
The United States also ended a choppy trading day, closing mostly higher with a string of gains. The S&P 500 index rose 0.2%, rising 8.06 points to 4305.20 points. The Dow rose 239.57 points to 34152.01 points. Shares of Walmart, the largest U.S. retailer, rose 5.1% after the company reported strong results that exceeded analysts’ expectations.
However, losses in technology, health care and energy stocks limited gains in the broader market.
analysis believes that due to signs of easing inflation, the U.S. stock market achieved its best performance in a year and a half in July, and the rising momentum continued until August.
(Source: Jimu News)
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