Major indexes continued the week-long rally, the Asian market ended higher at the same time securities markets were suspended because of a system defect in Singapore. The Singapore Exchange (SGX) stated that the security market was adjusted because of duplicate trade confirmation messages despite that the market has remained “orderly”. Trading will continue when “member reconciliation is completed.”
Hong Kong’s Hang Seng index increased by 0.95 percent, Shanghai composite decreased by 0.22 percent with 3,053.91, Shenzen composite at 0.16 percent with 2,044.93 while mainland markets from China closed diversely.
Japan’s Nikkei 225 surged this week with a gain of 8.46 percent and closed by 0.95 percent at 16,385.89. The Topix settled with 0.84 percent at 1,311.16. Stocks have bounced back and the yen weak against the dollar despite anticipated confidence from Prime Minister Shinzo Abe’s victory in upper house elections would produce fiscal and monetary easing.
The Kospi settled 0.16 percent at 2,008.77 while the South Korean benchmark index increased by 2.32 percent. The Korean Won was slightly higher because the country’s central bank maintained the base rate at 1.25 percent.
Singapore’s Q2 gross domestic product strengthened 0.8 percent which is slightly lower than what Reuters expected with 0.9 percent.
The material has been provided by InstaForex Company – www.instaforex.com