Asian markets trade almost flat; Shanghai Composite index up 1%

Hang Seng index added 0.47%, the Nikkei 225 in Japan rose 0.93% and the Topix index recovered from its earlier slip and added 0.57%.

Jul 09, 2020 12:07 IST India Infoline News Service

Nikkei
Asian markets were trading flat in Thursday afternoon trade with the Shanghai Composite gained 1.03% and the Shenzhen Component rose 2%.

Hang Seng index added 0.47%, the Nikkei 225 in Japan rose 0.93% and the Topix index recovered from its earlier slip and added 0.57%. Further, the Kospi advanced 0.89% and Australia’s S&P/ASX 200 gained 1.16%.

According to data from China’s National Bureau of Statistics data, China’s producer price index slipped 3% yoy and the consumer price index rose 2.5%.

Overnight on Wall Street, the Dow Jones Industrial Average closed 177.10 points higher, or 0.7%, at 26,067.28. The S&P 500 added 0.8% to finish its trading day at 3,169.94 while the Nasdaq Composite advanced 1.2% to 10,492.50, notching a record closing high.

Meanwhile, oil prices were little changed as concerns about renewed COVID-19 lockdowns in the United States outweighed signs of a recovery in US gasoline demand.

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