Asian stocks trade mostly higher
On Monday, stocks in Asia traded mostly higher with Tokyo flat after second quarter GDP data that kicked in in below expectations.
The Nikkei 225 soared 0.79 of a point at the break.
The Shanghai Composite Index gained 1.32%, getting closer to the highest levels for seven months. Additionally, in Hong Kong the Hang Seng Index grew 0.45%. As for the Yuan, this Asian currency dropped against the greenback on Monday even though the People's Bank of China dared to strengthen the fixing at 6.6430, compared with Friday’s key parity of 6.6543.
The S&P/ASX 200 edged up 0.20%.
This week, market participants will await Wednesday’s minutes of the Fed’s July policy gathering for fresh indications on the timing of the next American rate soar as well as American inflation data.
The previous week, American stocks retreated on Friday from record-peaks in quiet trade, as a bunch of gloomy economic reports increased the prospects for a delayed interest rate hike from the Federal Reserve, thus weighing on beaten down bank shares.