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Stocks in Asia and the Pacific are rising with a focus on trade

2019-05-15 06:36 am | Resource: News | No Views : 27

Stocks in Asia and the Pacific are rising with a focus on trade

Stocks in the major stock markets in East Asia and the Pacific rose on Wednesday afternoon despite persistent tensions between the world's two largest economies.

US Department of the Treasury announced that the head of the department, Stephen Menuchin, plans to visit China "soon" to continue trade negotiations.

China's retail sales rose 7.2% year-on-year in April

China's retail sales rose 7.2 percent in April from the same month last year, the National Bureau of Statistics said in its latest edition. Consensus for April expectations put the figure at 8.6%. Meanwhile, on a monthly basis, retail sales fell 1.5%.

Retail sales in urban areas grew by 7.1% year-on-year, while in rural areas it increased by 7.8%. Retail sales of goods for daily use rose significantly in April, up 12.6% yoy, followed by medicines, which rose 11.5% and beverages by 9.7%.

In the first four months of the year, total retail sales of consumer goods rose 8% year-on-year. Total online retail sales grew by 17.8%, while online retail sales of physical goods rose by 22.2% in April compared to the same month in 2018.

Asian stocks close
 
  • In mainland China, the Shanghai Composite Index jumped 1.46% at 7:29 CET.
  • While the Shenzhen Composite Index rose 1.85%. At the same time
  • Hong Kong's Hang Sang Index rose 0.75% at 7:29 CET.
  • The Nikkei 225 <.N225> rose 0.17% at 7:30 am.
  • In South Korea, the composite Kospi Composite Index rose 0.59% at 7:11 am CET
  • While the Australian S & P / ASX 200 rose 0.80% at 7:30 am CET.

The dollar was slightly changed against the yen at 7:29 CET, trading at 109.6540 JPY.


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