Radiocor News

Asian shares close mostly higher; data in focus

Tokyo Nikkei 225 up 0.95%, S&P ASX 200 up 1.36% (Il Sole 24 Ore Radiocor) - Tokyo , 25 Jun - Asian shares outside China closed higher, snapping a three-day losing streak.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%, rebounding from a three-day drop after climbing last Wednesday to its highest level since April 2022.

The regional index rose 0.9% last week and was on track for a nearly 4% monthly surge in June.

Sydney S&P ASX 200's index led the gains as miners stocks rose on stronger commodity prices.

Technology stocks dropped in Asian dealings as they tracked their US peers lower, with the tech-heavy Nasdaq Composite index posting its worst day since April, and tech darling Nvidia dipping 6.7% overnight.

Chinese stocks underperformed as trade tensions continued to keep sentiment in check.

Investors also assessed fresh data from the region, with Japan's services producer price index climbing 2.5% year on year in May, compared with the 2.7% rise in April, while South Korea's consumer confidence index climbed in June to 100.9 from 98.4 in May and Australian consumer sentiment improved slightly in June, according to a private survey.

Traders also awaited consumer inflation data from Australia due tomorrow, after Reserve Bank of Australia governor Michelle Bullock revealed the central bank discussed hiking rates at its last meeting.

Traders also looked ahead to the first US presidential debate on Thursday and the first round of voting in the French election next weekend.

The Nikkei index closed up 0.95% at 39,173 points, in Sydney the S&P ASX 200 closed up 1.36% at 7,838 points, while in Seoul the KOSPI closed up 0.36% at 2,774 points.

The Shanghai Composite index was down 0.35% at 2,952 points and the Hong Kong Hang Seng index was down 0.11% at 18,004 points. In Mumbai the Sensex index was up 0.28% at 77,558 points.

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(RADIOCOR) 25-06-24 09:09:56 (0189) 5 NNNN

 


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