7/4/2016, 6:38 AM (Source: TeleTrader)
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Asian markets see decent gains

Financial markets in Asia-Pacific region saw some decent gains on Monday, mostly erasing earlier losses after a shaky start, as initial Brexit fears subsided.

The S&P/NZX 50 index was up 0.26%. New Zealand dollar was off 0.12% to the Australian counterpart at 6:20 a.m. CET. The data from Treasury released on Monday said the first quarter real GDP growth was stronger than expected, led by construction, tourism and services, and it was underpinned by growth in country's population.

Across the Tasman Sea, the Australian ASX All Ordinaries was up 0.3%, while S&P/ASX200 index added 0.2%. The country is still waiting for results from snap election, which would probably end in a hung parliament. Major rating agencies say there is little danger for nation's AAA credit rating. The Melbourne Institute Monthly Inflation Gauge was up 0.6% in June, after a fall of 0.2% in May. Australian dollar was down 0.05% versus the U.S. counterpart at 6:25 a.m. CET.

In Tokyo, the Nikkei 225 added 0.70% by 6:10 a.m. CET. Japan's monetary base rose for the seventh month in a row in June, at 403.94 trillion yen ($3.9 trillion), or 24.3% higher from a year earlier. The Bank of Japan is sustaining high liquidity in a continuing attempt to boost inflation. The yen was 0.19% lower against the otherwise strong U.S. dollar at ¥102.717 at 6:32 a.m. CET.

Shares of largest Chinese property developer China Vanke crashed down 10% after the trade was continued for the first time since December; the company is in turmoil over possible hostile takeover by Baoneng Group. The Shanghai Composite rose 1.77% and the smaller Shenzhen Composite added 1.32% by 6:30 a.m. CET. In Hong Kong, the Hang Seng Index rose 1.45%.

Breaking the News / ZR