Asia Stocks Mostly Soared on Investor’s Economic Confidence

Asia Stocks Mostly Soared on Investor’s Economic Confidence

On Wednesday, July 21, Asia stocks mostly soared as investors’ economic confidence was renewed after the overreaction on inflation and covid fears, which sent the global stocks down.

In Japan, the Nikkei 225 climbed 0.55%, with a net gain of $151.14. This sent the stocks above at $27,539.30 per share.

It was led by Suzuki Motor Corp, which rose 5.10% or 223.00 points to $41.81 per share.

Following Suzuki are NSK Ltd and Hino Motors Ltd, both spiking 3.59% or 32.00 points to $8.41 per share and 2.85% or 25.00 points to $8.20 per share, respectively.

While the broader TOPIX Index also gained 1.02% with a net increase of $19.22, which sent the stocks higher at $1,908.11 per share.

The country’s recently released trade data was better than expected as the exports grew 48.60% year over year as well as the imports, which also increased 32.70% year-on-year in June.

In China, the Shanghai Composite Index and the Shenzhen Component Index both rallied 0.49% or 17.19 points to $3,553.98 and 1.14% or 171.14 points to $15,182.49, respectively.

Moreover, Australia’s S&P/ASX 200 Index also progressed 1.04%, with a net gain of $62.60. This sent the stocks up at $6,065.40 per share.

On the other hand, Hong Kong’s Hang Seng Index plummeted 0.53%, with a net change of 144.62. This sent the stocks to the bottom at $27,114.63 per share.

Also, South Korea’s KOSPI lost 0.47%, with a net loss of $15.20. This sent the stocks below at $3,217.50 per share.

Global Stocks Climbed

Furthermore, global stocks climbed as Wall Street’s major indexes improved from yesterday’s fall.

The Dow Jones Industrial Average led the gain by 1.62% or 549.95 points sending the stocks above at $34,512 per share.

This was followed by NASDAQ Composite Index and S&P 500 Index, which both rose 1.57% or 223.89 points to $14,499 and 1.52% or 64.57 points to $4,323, respectively.

While in Europe, London’s FTSE 100 Index and FTSE All Share Index both rallied 0.54% or 36.7 points to $6,881 and 0.59% or 22.96 points to $3,933, respectively.

In the Frankfurt Stock Exchange, the DAX and the MDAX Performance Index both progressed 0.55% or 83.07 points to $15,216 and 0.22% or 75.66 points to $33,951, respectively.

Additionally, the MSCI World Index smashed 1.02% with a net increase of $30.31. This sent the stock up at $3,005.86 per share.

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