Asian Stocks Extend Rally as Chinese Automakers Lead Advance

Asian shares rose for a second day after U.S. stocks gained amid expectations the Federal Reserve will maintain a slow pace of rate hikes.

The MSCI Asia Pacific Index advanced 0.8 percent to 179.57 as of 4:43 p.m. in Hong Kong, heading for a three-week high. Japan’s Topix gained 0.8 percent, with telecommunications and drugmakers providing the biggest boosts. Australia’s S&P/ASX 200 added 0.7 percent, while Hong Kong’s Hang Seng Index rose 0.7 percent.

Source : Bloomberg

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Chinese Stocks Crushed as “bulls kill bulls” in Exit Stampede


Chinese stocks suffered their worst day in almost two years on Friday, with blue-chip led carnage dragging the markets into correction territory after steep falls overnight in U.S. stocks.


The benchmark Shanghai Composite Index tumbled 4.0 percent and the blue-chip CSI300 ended the day down 4.3 percent. At one point, both were down more than 6 percent.

It was the biggest single-day dive for the two since February 2016, when the fallout from a botched attempt to introduce a circuit-breaker mechanism after a market meltdown was still rattling investors.


Hong Kong shares, meanwhile, slumped to their biggest weekly loss since the global financial crisis.

Pills Source : Reuters

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European stocks edge up as Chinese data, chip makers cheers traders

European stocks notched modest gains Thursday, with chip makers boosted by an encouraging forecast on U.S. sales and the broader market welcoming the release of upbeat economic growth and industrial output data from major trading partner China.

But U.K. equities were a source of pain, as traders fretted about the health of the British real-estate market and as shares of Primark owner AB Foods took a knock after a financial update.

The Stoxx Europe 600 index rose 0.2% to close at 398.74.

Germany’s DAX 30 index rose 0.7% to 13,281.43, and France’s CAC 40 ended 0.02% higher at 5,494.83.

But the U.K.’s FTSE 100 index shed 0.3% to hit 7,700.96, squeezed by a rally in the pound bought $ 1.3904, up from $ 1.3830 late Wednesday in New York.

The euro bought $ 1.2243, up from $ 1.2188 on Wednesday.

Source: Marketwatch

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