Asian stock markets rally higher
2019-01-07 07:27 am | Resource: News | No Views : 52
Asian stocks rose on Monday ahead of US-China trade talks.
On the other hand, the Japanese PMI for December fell to a three-month low of 51.0.
Japan's services index fell to 51.0 in December
Japan's PMI for December fell to a three-month low of 51.0, down from 52.3 from the previous month. Meanwhile, the Nikkei composite data recorded 52.0 in December, slightly down from 52.4 in November.
Said Joe Hayes, an economist at IHSMarket. "Positive survey data from the manufacturing sector was not driven by Japan's dominant service delivery industry in December, as business activity rose at its weakest pace since May if September was reduced by natural disasters.
The survey also pointed to a decline in demand pressures, with private sector sales rising only slightly during the month. However, composite level data indicate a relatively strong expansion over the last three months of 2018, indicating that Q4 GDP will rebound in growth,
- The greenback was down 0.25% against the yen, trading at 108.1875 at 4:11 am.
The Malaysian king relinquishes the throne two years later
Malaysian King Mohammed bin Mohammed abdicated after only two years on the throne in the first concession in the history of the country.
In a statement, the palace said the governor resigned as Malaysia's 15th king with immediate effect, but no reason was given for his early departure.
Sultan Mohammed VI became king in December 2016, succeeding his father Sultan Ismail Petra.
Asian Indices Trading
- The Nikkei 225 Average was down 0.51% at 4:06 CET.
- The Shanghai Composite Index rose 0.49% at 4:09 CET.
- While the Shenzhen Composite Index traded 1.10% in the Green Zone at the same time.
- The Hang Seng Index in Hong Kong traded 0.36% at 4:07 CET.
- South Korea's Kospi rose 1.08% at 4:08 am.
- The Australian S & P / ASX 200 rose 0.08% at 4:08 am CET.
Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The purchasing power managed to control the movement of the NASDAQ 100 index to break through the resistance level of 6630 to reach the level of 6721 where it faced around this level to retreat slightly to level of 6625 likely the Dow Jones, but we note that there is a…
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