Pakistan Business News
International Business News
SINGAPORE – Asian stocks were fused in U.S. markets followed by a four day depression.
The incident was triggered by concern about the strength of the world’s biggest economy weighed on investor confidence. Tokyo’s Nikkei 225 index added 0.8 percent to 9,620.24 while Hong Kong’s Hang Seng fell 0.9 percent to 20,417.82. China’s benchmark Shanghai Composite Index declined 0.7 percent to 2,270.21. South Korea’s Kospi gained 0.6 percent to 2,008.18. The market growth gave the results more than expected by the belief that US economic growth is strong enough to absolve the beat up in global stocks in the last few months.
China’s economy – China has decreased its GDP growth target last month to 7.5 percent, sparking concern the world’s second-largest economy is slowing down than expected. Lorraine Tan, director of equities research with Standard & Poor’s in Singapore said, “If Chinese growth this year can come in not at 7.5 percent, but rather closer to 8.3 or 8.5 percent, then we should see a bounce in the market, what will take the market to the next level are signs of a pickup again in growth out of Asia and other emerging markets.”