The first week of August started positively in Asian markets. Stocks rose in China, Korea, Hong Kong and Japan. Markets in India or Australia also joined in.
Perhaps the sharpest track was the development on the Shanghai Stock Exchange. July marked the worst month for its stocks in almost three years. But the Shanghai Stock Exchange‘s aggregate index eventually firmed by less than two percent on Monday, with the main CSI300 index adding as much as 2.55 percent. Hong Kong’s Hang Seng Index also rose more than a percent.
The Tokyo Stock Exchange was also in good spirits. The Nikkei composite index added 1.82 percent on Monday, erasing Friday’s losses and rebounding from its lowest level since early January. The drivers were shares of transport companies and also of car manufacturers.
Seoul’s KOSPI index also firmed, but the least of all the stock markets mentioned, was 0.65 percent. The market was dominated by tech giants led by Samsung and Hyundai. India and Australia have also contributed to the growth of stock markets in the region. Shares in its main markets firmed 0.56 and 1.3 percent, respectively.