Asian equities start data-heavy week with revenues

Asian equities start data-heavy week with revenues

On Monday, Asian equities turned positive, shrugging off a fresh North Korean missile test, and market participants shifted their focus to a bunch of economic reports as well as earnings this week. Meanwhile, the greenback crept up, though it was still capped by American political concerns.

European equities are braced for a muted start, with financial spreadbetter CMC Markets actually expecting the UK’s FTSE 100, France's CAC 40 and Germany's DAX to all start nearly intact.

Outside Japan MSCI's broadest index of Asia-Pacific stocks reversed early losses to inch up 0.25%.

Chinese equities ascended, underpinned by several leading companies' predictions for firm mid-year profits. The blue-chip index along with the Shanghai Composite both headed north 0.6%. In Hong Kong, the Hang Seng grew 1% hitting a two-year maximum.

That solid performance came notwithstanding a dip in official China’s manufacturing and services purchasing managers' indices for July. However, they fluctuated above the 50-point level, separating contraction from surge on a monthly basis.

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S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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