Epic Research Singapore : U.S Market Update

Asian markets rose on Monday, with Hong Kong leading the region higher, while Japanese stocks were weighed by the release of disappointing growth numbers.

Hong Kong’s Hang Seng Index added 1.2% and the Shanghai Composite rose by 0.3%, after Chinese bank loans jumped more than expected in January, with financial institutions issuing 1.32 trillion yuan ($217.6 billion) worth of new loans last month. Although Chinese banks typically make more loans at the beginning of the year, it was interpreted by the market that demand in the economy is strong

The yen started to strengthen when the data was released, with the dollar last at ¥101.58 compared with ¥101.80 late Friday in New York. This added to the dollar’s 0.4% loss on Friday.

 

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