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Forex News from New Forex: Asian markets closed with a rise

On Friday, July 1, Asian markets started the first day of the new quarter in the positive zone. The Japanese index Nikkei kept rising closing trades at 15,682.48 ( 0.7%). This week the index gained 4.9%, a weekly high since April 2016. The broader Topix surged 0.7% to 1,254.44, the JPX-Nikkei Index 400 advanced 0.6% to 11,320.65.

The pair dollar/yen shed 0.68% to 102.57. On Thursday information on household spending in Japan was released, it slid 1.5% exceeding the forecast (-0.2%).

The Chinese market closed in the positive zone, stock markets recover after Brexit shock. The growth of the service sector in June lent support to the Chinese market. Blue chips of the CSI300 index stand at 3,154.20, the Shanghai Composite climbed 0.1%. However, the manufacturing sector declined from 49.2 in May to 48.6 in June. The central bank of China might introduce new measures in the coming months to stimulate the economy.

NewForex Analyst

Luigi Campo

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