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Asian stocks are trading higher amid geopolitical instability

2019-07-19 06:41 am | Resource: News | No Views : 60

 Asian stocks are trading higher amid geopolitical instability

Asian stocks rose on Friday after the United States announced that its fleet had dropped an Iranian drone approaching one of its vessels. Iran has not yet confirmed the incident. At the same time, Japan's inflation rate was 0.7% in June on an annualized basis, according to the latest report.

The Japanese consumer price index rose 0.7% in June on an annualized basis

The Japanese consumer price index (CPI) was 101.6 in June, up 0.7 percent year-on-year, according to a new report from the Statistics Bureau released on Friday. Inflation has not changed compared to the previous month. Prices for all items excluding fresh food rose by 0.6% year-on-year, while all items excluding fresh food and energy were up 0.5% annually.

The price of goods rose by 1% compared to June 2018, while services rose by 0.4%. Fuel, light and water charges contributed to an increase in consumer price index by 2.2% year-on-year, followed by furniture and household utensils by 1.8%. Transport and communications were the only ones with a 1.3% drop in prices.

Japanese industry activity increases in May

Japan's industrial activity rose 0.3% in May from a month earlier, according to a report by the Ministry of Economy, Trade and Industry on Friday. The seasonally adjusted industrial activity index was 106.7, 0.3% higher than April.

The index of construction activity was 114.3 in May, up 1.4% on a monthly basis, while the industrial production index was reported at 104.4, up 2.1% from April. Industry activity increased by 0.2% in May, with a 106.8 index.

Asian stocks trading
  • The Nikkei 225 index gained 1.71% at 4:26 am.
  • South Korea's Kospi rose 0.97% at 4:06 am.
  • In China, the Shanghai index jumped 1.11% at 4:26 am CET.
  • While the Shenzhen Composite Index rose 1.16% at 4:28 am CET.
  • Hong Kong's Hang Seng Index rose 0.99% at 4:28 am CET.
  • The Australian S & P / ASX 200 rose 0.80% at 4:29 am CET.

The dollar traded up 0.23% against the yen, reaching 107.5385 yen at 4:29 CET.

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