To date, on Thursday, Asia stocks mostly grew higher and stronger but slight. Despite the number of growth, this has become good news to the region, or at the very least for most of the countries.
CNBC reported that Mainland Chinese stocks mostly rose on Thursday. Accordingly, Shanghai composite index gained 0.46% growth and Shenzhen components rose 1.01% and Shenzhen composite gained 1.028%.
Japanese Nikkei rose 0.38% and TOPIX gained 0.56% to end the trading day. South Korean KOSPI got 0.46% growth as Samsung Electronics’ shares raised 3.04%. Earlier, Singaporean Strait Times index rose 0.38%.
However, Hong Kong’s does not share identical experiences. Reportedly, Hong Kong’s Hang Seng index fell 1.07%. Also, Life insurer AIA’s shares dropped 3.04%.
Notable Events Affecting the Stocks
The rise of most of Asia stocks did not miraculously happen out of nowhere. In accordance with the elevation, recently occurring notable events were affecting the stocks.
Prior to the day, US Federal Reserve cut interest rates on Wednesday night. The overnight rate cut was by 25 basis points, to a range of 1.75% up to 2%. Despite the Fed’s move, US Central Bank appeared to be divided in furthering their action for the year.
Furthermore, potential trade deals between the US and China also shed hope according to analysts. The news arguably triggered more traffics of stock trades in China and Hong Kong.
Yesterday, US President Donald Trump signaled that the US and China would most likely come into new deals and agreement on their trades in the near future accordingly. Mr. Trump predicted that the new deals will be signed before the 2020 presidential elections or the day after.
Moreover, in Japan, in response to the elevation, Bank of Japan kept monetary policy steady. Bank of Japan kept its short-term interest rate target at -0.1%. Additionally, the bank pledged to guide 10-year government bond yields around 0%.
Also Read: Oil Prices Surge Pushes Asia Markets Lower