Chinese stocks jump as the country’s June manufacturing activity beats expectations

By Amwal Al Ghad English On Jun 30, 2020

An advertising board (L) showing a Chinese stone lion is pictured near an entrance to the headquarters (R) of China Securities Regulatory Commission (CSRC).

Stocks in Asia Pacific rose on Tuesday as China’s official manufacturing Purchasing Manager’s Index for June came in above expectations.

Mainland Chinese stocks were also higher on the day, with the Shenzhen component jumping 2.042% to approximately 11,992.35 while the Shanghai composite was up 0.78% to about 2,984.67.

Hong Kong’s Hang Seng index advanced 0.25%, as of its final hour of trading, with shares of life insurer AIA falling 1.17%. The moves came after China passed a controversial national security law for the city. Chinese officials are set to hold a media briefing regarding the security law on Wednesday morning local time.

The Nikkei 225 in Japan rose 1.33% to close at 22,288.14, following its more than 2% slide on Monday. The Topix index also added 0.62% to finish its trading day at 1,558.77. In South Korea, the Kospi closed 0.71% higher at 2,108.33.

Meanwhile, the S&P/ASX 200 in Australia added 1.43% to end its trading day at 5,897.90.

Overall, the MSCI Asia ex-Japan index rose 0.62%.