Asian stocks added 1.52%. However, only Hong Kong's Hang Seng Index rose dramatically. Other indices grew less significantly: China's Shenzhen Composite and Shanghai Composite indexes rose by 0.07% and 0.15% respectively. Australia's S&P/ASX 200 increased by the same amount, i.e. 0.11%. Korea's KOSPI gained 0.45% and Japan's Nikkei 225 went up 0.65%.
Corporate reports contribute to investors' positive sentiment. Alibaba and Huawei will publish their reports this week.
According to the PRC latest statistics, the services PMI recorded an increase to 55.5 points in July from 54.5 points in June.
Another positive factor was a slight easing of tensions between the PRC and the US due to a trip to Taiwan by US House Speaker Nancy Pelosi. However, the Chinese military is conducting drills near Taiwan. Therefore, investors continue to monitor the situation. If China decides to impose any sanctions, it will affect traders' behavior.
Despite making a loss in the first six months of 2022 and a decline in earnings, shares of Wharf Real Estate Investment Co. rose by 3.4%.
Shares of JD.com Inc., Alibaba Group Holding Ltd., Meituan Co.Ltd., Geely Automobile Holdings Ltd. and Xiaomi,Corp. also advanced. They added 4.6%, 4%, 2.3%, 2.7%, and 2.6% respectively.
SJM Holdings Ltd. stocks were down 14% after the news of bond issue of HK$2.94 billion worth $374.5 million for capital gain by the company.
Shares of Subaru Corp., Tokyo Electron, Ltd. as well as Advantest Corp. advanced among components of Japan's Nikkei 225. They rose by 8.4%, 3.3%, and 3% respectively.
Shares of LG Electronics Inc. and Samsung Electronics Co. gained among Korea's KOSPI components. They added 2.1% and 0.7% respectively. However, Kia Corp. dropped by 0.3%.
According to the latest Australia's statistics, the country has a significant trade surplus, which totaled A$17.67 billion in June (worth a record $12.28 billion). This led to a 5.1% increase in exports, mostly iron ore exports. Meanwhile, imports rose only by 0.7%.
Of the Australian S&P/ASX 200 components, Shares of Tyro Payments Ltd. gained 14.6%, Imugene Ltd. gained 12% and Pointsbet Holdings Ltd. went up among Australia's S&P/ASX 200 components. They increased by 14.6%, 12%, and 10.2% respectively.
