Markets in Asia closed higher on Tuesday, extending their gains from the previous session. Investors temporarily set aside recent US-China trade concerns and looked ahead to the latest corporate earnings season.
On the economic front, China's June consumer price index (CPI), a main gauge of inflation, rose 1.9 percent compared to one year ago, data from the National Bureau of Statistics (NBS) showed.The producer price index, which measures costs for goods at the factory gate, rose 4.7 percent from one year ago, hitting a six-month high. Meanwhile, Australian shares ended lower as the big banks weighed on the local bourse.
European markets closed in the green as investors brush aside trade and Brexit-related concerns. UK Prime Minister Theresa May remodelled her cabinet after Brexit Secretary David Davis and Foreign Secretary Boris Johnson resigned.
Market watchers also looked forward to earnings season. On the data front, UK's GDP rose 0.2% in quarter to May, the National Statistics Office said while the country's trade deficit expanded £5B in three months to May and industrial production was down 0.4% in May.
Disappointing economic data also came out of Germany, where the economic sentiment sank in July, the ZEW think tank announced. The Mannheim-based institute said its monthly barometer dropped to levels not seen since August 2012.
"Above all, fears of an escalation in the international trade conflict with the United States drove the institute's index down 8.6 points to reach -24.7 points," ZEW President Achim Wambach said in a statement.
Across the Atlantic, U.S. stocks closed higher in anticipation of what is expected to be a strong corporate earnings season, enabling investors to look past worries over trade conflicts between the US and China.
World Markets Headlines Today
Hong Kong stocks end morning on a high (Fin24)
India: Sensex, Nifty extend gains; IT, banking stocks lead (Mint)
Australia: Stock snap 3-day winning streak (Australian Business Review)
European Shares Look Set To Extend Gains (RTT News)
European shares higher as investors shift focus toward earnings; Ocado sinks 6.6% (CNBC)
European markets are mixed today (CNN Money)
Traders Reload Loonie Shorts Ahead of Bank of Canada Decision (Bloomberg)
Dow Pushes Higher for a Fourth Straight Day (The Street)
Stocks off session’s best levels, but still Dow set for longest win streak in a month (Marketwatch)
Gold prices inch up amid Brexit uncertainty, steady dollar, Brent leads crude prices higher as Norway oil workers prepare to strike (Reuters)
25 Major Markets Stock Indices Closing Data
All Continents Stock Indices Closing Data
Tokyo's Nikkei 225 rose 0.66% while Hong Kong's Hang Seng ticked down 0.02%. China's Shanghai Composite was up 0.44%. Seoul's KOSPI was higher by 0.37%. Mumbai's Sensex increased 0.85% while Nifty 50 advanced 0.87%. Australia's ASX200 was off 0.44%. Singapore's STI finished 1.42% in the green. Jakarta's Composite grew 1.28% and Taiwan's Weighted Index was up 0.34%.
The Paneuropean STOXX600 rose 0.43%. France's CAC increased 0.67%. London's FTSE ticked up 0.05%. Belgium's BEL 20 was higher by 0.17%. Amsterdam's AEX grew 0.52%. Moscow's IMOEX decreased 0.34%. In Southern Europe, Lisbon's PSI20 was up 0.34% while Spain's IBEX 35 dropped 0.38% and Italy's FTSE MIB rose 0.11%.
In Scandinavia, Stockholm's OMXS30 was up 1.11% while Copenhagen's OMXC25 increased 0.85%. Helsinki's OMXHPI finished the day 1.02% in the green.
In Central Eastern Europe, Budapest's BUX dropped 0.77% while Warsaw's WIG was up 1.11%. Prague's PX advanced 0.74% and Bratislava's SAX was higher by 0.14%. Tallinn's OMXT was ticked up 0.06% while Riga's OMXR advanced 1.80%. In Vilnius,the OMXV was up 0.07%.
In South Eastern Europe, Bucharest's BET was up 0.14% while Sofia's Sofix increased 0.11%. Belgrade's Belex grew 0.84%. Podgorica's MNSE10 fell 0.33%. Sarajevo's SASX10 was up 0.10% while Banja Luka's BIRS was higher by 0.10%. Ljubljana's SBI Top rose 1.19%. Zagreb's CROBEX gained 0.69%. In Skopje, the MBI10 added 0.14%. Istanbul's BIST100 dipped 3.00%. In Athens, the General Index finished the day 0.74% in the green while in Nicosia was up 0.08%.
Dar Es Salaam's ASI gained 0.06%. Egypt's EGX30 rose 0.86% and Johannesburg's ASI fell 0.33%. Nigeria's ASI decreased 0.60% while Nairobi's ASI grew 0.14%. Namibia's Overall Index dropped 1.00%. Mauritius' SEMDEX was off 0.59% and Zimbabwe's Industrial Index gained 0.37%.
In Canada, the S&P TSX Composite advanced 0.59%. In the U.S., the Dow Jones gained
0.58% while the S&P 500 rose 0.35%.The Nasdaw ticked up 0.04%. Mexico's IPC led Brazil's
Bovespa lower. They fell 0.50% and 0.20% respectively. Chile's IPSA ticked down 0.04%.