NTDTV
Market Report – Shanghai Down; Japan Up
(NTDTV)
In today’s Market Report… Chinese shares rebounded after hitting two month lows… giving a boost to Asian markets after recent losses.
Many investors are nervous that the 20 percent Shanghai index slide over the last two weeks could continue to decline.
Oil’s gain overnight lifted PetroChina, the most heavily-weighted stock in the Shanghai index, while new mutual funds were hoped to underpin the market.
Japan’s Nikkei climbed from a 3-week closing low, boosted by resource shares like oil and gas field developer Inpex.
Japan’s auto and truck sector gained on brokerage rating upgrades and hopes of better demand in the second half of the year.
Seoul shares rose on the back of banks and technology companies like chipmaking giants Samsung and Hynix.
And shares in Taiwan, meanwhile, fell to a 1-month low amid worries of a possible Cabinet reshuffle in response to criticism the government was too slow to react to the recent typhoon, which battered the country.
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