As Asia markets advance, Hong Kong equities increase by more than 2%; oil futures also increase by 2%

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Last Updated on July 18, 2022 by Bitfinsider

Monday saw increases across the Asia-Pacific markets, led by Hong Kong’s Hang Seng, which increased by more than 2%. Futures for oil also increased by 2%.

The Hang Seng Tech index increased by 3.02 percent, and the benchmark index in Hong Kong gained 2.7 percent to close at 20,846.18. Meituan stock increased 5.86 percent, while Longfor stock increased 4.11 percent.

Markets on China’s mainland developed. The Shenzhen Component increased by 0.98 percent to 12,532.65, while the Shanghai Composite increased by 1.55% to 3,278.10.

The Kosdaq was up 1.88 percent at 776.72 and the Kospi increased 1.9 percent to close the day at 2,375.25.

The S&P/ASX 200 index increased 1.23 percent to 6,687.1 in Australia.

The largest MSCI index of Asia-Pacific stocks outside of Japan increased by 1.8 percent.

The market in Japan was closed on Monday due to a holiday.

Vasu Menon, executive director of investment strategy at OCBC, stated that given current uncertainty, he currently sees higher downside risk for volatile markets.

According to official data released on Monday, New Zealand’s consumer price index increased 7.3% in the June 2022 quarter as compared to the same time in the previous year. According to Stats NZ, the main reason for the increase in the nation’s GDP was an increase in building and home rental costs, which reached a 32-year high.

In an effort to combat inflation, the Reserve Bank of New Zealand increased interest rates by 50 basis points last week. On Monday, the New Zealand dollar was trading at $0.6177.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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