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Asian and the Pacific stock markets fall as trade talks continue

2019-07-31 06:20 am | Resource: News | No Views : 24

 Asian and the Pacific  stock markets fall as trade talks continue

Major stock markets in East Asia and the Pacific fell on Wednesday with a focus on ongoing trade negotiations. US President Donald Trump has claimed that talks with China are "going well" and Beijing is ready to "give up a lot". At the same time, the media reported that Washington and Tokyo had reached an agreement on free digital trade.

Manufacturing rise in China in July

On the data sheet China PMI was at 49.7 in July, up 0.3 points from the previous month, according to a statement by the China Federation of Logistics and Procurement. Demand growth in the market rebounded this month, production activities accelerated for companies, market prices rose, and the production and operation activities of large companies rebounded, according to the report.

"The PMI rose slightly in July, indicating that the economic slowdown is slowing," said private analyst Zhang Lechun. "However, the PMI is still below the line of glory, the downward pressure on the economy is still not insignificant.The basis of stability still needs to be strengthened."

At the same time, the Non-Manufacturing Activity Index reached 53.7, down 0.5 points from June. The construction sector fell by 0.5 points, while the wholesale trade index fell 5.2 points. However, the report noted that "the probability of recovery in the next two months is relatively high."

Asian stocks trading
  • The Japanese Nikkei average fell 0.73% at 07:30 am
  • In mainland China, the Shanghai Composite Index lost 0.63% at 7:30 am CET
  • While the Shenzhen Composite Index fell 0.68%.
  • Hong Kong's Hang Sang Index fell 1.20% at the same time.
  • South Korea's Kospi Composite Index fell 0.24% at 07:11 CET.
  • While the S & P / ASX 200 index in Australia fell 0.28% at 7:30 am CET.

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