Asian stocks mostly soar notwithstanding headwinds from China data

Asian stocks mostly soar notwithstanding headwinds from China data

On Monday, Asian stocks mostly added outside of Tokyo notwithstanding headwinds from a North Korean weekend missile test as well as worried over further spread of cyberattacks worldwide.

The Japanese benchmark Nikkei 225 went down 0.12%. As for the Kospi, it managed to shrug off North Korea's latest missile launch. Australia S&P/AX 200 tacked on 0.08%.

Meanwhile, miner BHP Billiton is supposed to disclose plans to unlock greater value from its shale assets right after hedge fund Elliott Management made the company restructure the previous month, as Reuters informed.

The Hang Seng Index jumped 0.56%, the Shanghai Composite inched up 0.26%.

Secondly, China posted that industrial production leapt a less than expected 6.5%, thus missing a 7.5% revenue observed. In addition to this, China informed that retail sales for April headed north 10% on year.

The previous week, American shares concluded mostly lower on Friday. It’s because market participants fled retail stocks for a second straight day amid worries of a drop in the retail sector while weaker than expected economic reports applies pressure on upside momentum.


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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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