Asian stock exchanges entered the New Year with optimism


The Chinese stock markets gained ground on Thursday. The vote was supported by a positive figure on Chinese industry and a measure by the Chinese central bank to boost slowed economic growth. The other stock exchanges in the region showed a mixed picture on the first trading day of the new year. The stock exchange was still closed in Japan. Trading in Tokyo will not resume until Monday, January 6.

The Shanghai stock exchange was 1.2 percent higher in the meantime. Figures from market researchers Markit and Caixin showed that activity in the Chinese industry increased again in December. In addition, on 6 January the People’s Bank of China announced a 50 basis point reduction in capital requirements for banks. As a result, banks need to keep less money in their cash and can lend more to boost the economy.

In Hong Kong, where the New Year also demonstrated against China’s growing interference, the Hang Seng index rose 1.1 percent. The Kospi in Seoul lost 0.8 percent. Dictator Kim Jong-un from neighboring North Korea has threatened to conduct nuclear tests again and to test long-range missiles. The All Ordinaries in Sydney started 2020 with a gain of 0.1 percent.

By: Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email

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