Economic news

Most Asian stocks surge, while Australia’s ASX 200 slips

Asian shares boosted on Tuesday after the European Commission agreed to Brexit agreement changes in the run up to the final vote on the Brexit “divorce” agreement.

asian stocks surge 1203

European Commission President Jean-Claude Juncker agreed to additional guarantees for an updated version of the Brexit document on Monday, but at the same time mentioned that British lawmakers will not have a third chance for the agreement approval.

The British pound, which grew on the eve of the negotiations between Theresa May and Juncker, continued its growth, in the hope that the changes would be enough to impact the British lawmakers, who recently hinted, that they plan again to disregard the plan of the Prime Minister on Tuesday.

The British currency rose by 0.62 percent, having reached the amount of $1.3231. The pound had soared by more than 1.5 percent in two days.

The MSCI’s main index for the Asia-Pacific region outside Japan rose by 0.65 percent, while the morning growth was supported by the growth of Chinese shares and oil prices.

Despite the fact that the world is experiencing a slowdown in domestic economic growth and uncertainty regarding trade negotiations between China and the United States, this year the Chinese markets were supported by investors' expectations of greater stimulus to mitigate any economic downturn.

  • Japan’s Nikkei 225 jumped by 1.79 percent, to 3,391.67 at 8.22 GMT.

  • Hong Kong’s Hang Seng grew by 1.45 percent to 28,915.93

  • China’s Shanghai Composite surged 1.10 percent to 3,060.31

  • South Korea’s Kospi inched higher by 0.89 percent, to 2,157.18, whereas Australia’s ASX 200 slipped by 0.09 percent to 6,174.8.


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