Japanese shares soared on China's manufacturing weakness

Note: This section contains information in English only.
Source: Dukascopy Bank SA

The Nikkei 225 Index soared by 0.51% to close at 9,178.12 after a survey showed that China's PMI may have contracted at faster pace this month. Weak manufacturing activity in China is expected to force the country's government to ease its monetary policy. Japanese shares also received a boost from reports that the Fed is likely to implement easing measures soon. Eight out of ten industries included in the index surged. The best-performers were technology and financial equities. Canon, Citizen and Toshiba jumped by 1.37%, 3.16% and 0.36%, respectively. Among financials, Chiba Bank and Shinsei Bank surged by 0.64% and 1.02%. Kao Corp rose 3.35% after JPMorgan Chase upgraded its rating from ‘neutral' to ‘overweight'. On the downside were oil and gas firms despite higher energy prices. Inpex and  JX Holdings tumbled by 0.63% and 0.74%.

 

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