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Newest Asian Market: Asian markets recover after US postponed some tariffs on China



Hong Kong's Hang Seng Index [ HSI ) gained 0.5%, with the technology stocks ahead of the pack. Tencent was up 2.7% from the quarterly results released later in the day. AAC Technologies and Sunny Optical Technology gained 1.5% and 9.8%, respectively. Both are suppliers of Huawei, the Chinese technology company that has become the focal point of the trade war.
China's Shanghai Composite Index ( SHCOMP ) gained 0.7%. [1
9659006] Both indices, however, posted earlier gains as new data on China's retail sales and industrial output turned out worse than expected.

Industrial production rose by 4.8% in July, the lowest growth in 17 years. Analysts surveyed by Reuters expected an increase of 5.8%.

Retail sales increased 7.6% in July, compared to an estimated 8.6% increase in tariff increase for China-made mobile phones, toy "class =" media__image "src =" http: //cdn.cnn .com / cnnnext / dam / assets / 190812142132-us-china-trade-was-large-169.jpg "/>

Japan Nikkei 225 ( N225 ) rose by 0.9% South Korea Kospi ( KOSPI ) gained 1.2% The Australian S & P / ASX 200 gained 0.1%

The Chinese yuan also rebounded in the onshore market after the Chinese central bank raised the currency for the first time in more than a week

The yuan fell 0.3% against the previous Tuesday. On the offshore market, where the yuan moves more freely, however, he noted weaker than on Tuesday – at about 7.03 yuan per dollar.

] Here are some more Important Steps at 10:30 am Hong Kong Time:

  • South China airport operator stockpiles increased after the Hong Kong mass protests hit the city's airport and disrupted Tuesday's flights for a second day. Airports near Hong Kong are likely to benefit from the disruption in the city, analysts of CITIC Securities wrote in a research report. Shenzhen Airport gained 2.4% on Tuesday, up 10% on Tuesday.
  • The Cathay Pacific Group ( CPCAY ) recovered by more than 3.6% in early Hong Kong trade . The shares of the airline were hit hard by the mass protests.
  • Asian equities were positive on Wall Street. US markets rose on Tuesday. The Dow ( INDU ) increased by 373 points, or 1.4%. The S & P 500 ( SPX ) and Nasdaq ( COMP ) added 1.5% resp 2% too. [19659028]
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