Asia Stocks Trade Higher as Chinese Manufacturing Activities for July Beats Expectations!

Stocks in Asia traded mostly higher on Monday, August 3, 2020, after the Chinese July manufacturing activities were above expectations.

 

As of 9:17 local time in Thailand (GMT+7), Nikkei jumped 2.16%, SSEC rose 0.72%, HSI slipped 0.27%, ASX 200 increased 0.13% and Kospi advanced 0.06%.

 

Early Monday, the Caixin/Markit manufacturing Purchasing Managers Index for July came in at 52.8, beating expectations of a 51.3 reading by the Reuters poll. The expansion resulted in positive sentiment for investors who tried to grapple the world’s economy after the coronavirus outbreak subdued.

 

The global’s total confirmed coronavirus cases were 18.03 million on Monday with 686,741 fatalities.