The Asian stock market began the trading week mixed, as the stock was hit by the Japan’s less-than-forecasted second quarter GDP. However, other stocks were seen in green, with the Chinese stock gains on the local stimulus news.
Stocks in China gains sent the benchmark index to its highest level in over a month .The Chinese communist government intends to offer financial stimulus to large cities to boost local economies that are struggling with its growth.
The Agricultural Bank of China concluded an agreement with Shanghai City to offer the municipality a loan that is worth up to 250 million yuan ($40.7 billion) to form a free-trade zone.
The Japanese benchmark Nikkei 225 edged down 0.70% closing at 13,519.43, while the broader Topix index dropped 0.55% to 1,134.62.
Hong Kong’s Hang Seng advanced 2.04 to 22,257.71 at the time of writing, while the Chinese mainland Shanghai composite jumped 1.32% to 2,087.23 at the same time.
South Korean Kospi index jumped 0.22% higher to 1,884.83%, while the Australian S&P/ASX 200 advanced 1.07% to 5,109.20.
Australian equities gained from the rise of metal prices, with mining companies rising.
Most of Japan’s stocks were affected by the weak second quarter GDP report that revealed that the struggling economy lowered below the forecasted suggestions , as the government and private sector cut down on investments .
The country’s GDP advanced 2.6% on a yearly basis during the second quarter. A separate report released showed that the country’s central bank measured corporate good price indicated a rise of 2.2% in the month of July; it’s highest since August 2011.
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