<\/p>\n
Asian markets closed with collective gains at the end of trading on Monday, September 8, the opening session of the week. Japanese indices rose as investors assessed the announcement of the Japanese Prime Minister’s resignation, the decline of the yen, and focus on potential successors to Ishiba. Chinese exports fell short of expectations amid ongoing trade concerns.
\nJust one year later, Japanese Prime Minister Shigeru Ishiba announced his resignation on Sunday, following mounting pressure following his recent loss of a parliamentary majority in the national elections in early September. This heightened political discord within the party, and focus began on the potential successor to the prime minister, with the odds favoring Sanae Takaichi and Koizumi Shinjiro, both of whom embraced the late Shinzo Abe’s easing policies and refrained from raising interest rates. This explains the decline in the Japanese yen and the rise in stocks today. Meanwhile, the Japanese economy recorded a 2.2% annualized GDP growth in the second quarter of this year, according to the final reading, compared to a 1% preliminary estimate. The economy grew 0.5% quarter-on-quarter, compared to a 0.3% preliminary estimate. Meanwhile, Chinese customs figures released this morning showed that China’s total exports in August rose 4.4% to $321.8 billion, compared to a 7.2% growth in July. Exports to the world’s second-largest economy recorded their slowest growth rate since February, while imports rose 1.8% to $219.5 billion, with shipments to the United States declining by about 33%. The Nikkei index closed the session at 43,643 points, up 1.45%, or 625 points. The Topix index of the Tokyo Stock Exchange rose by approximately 1.06% today, closing at 3,138 points. Socionext led the Nikkei’s gains, rising more than 7%.
\nChinese indices recorded gains today, with the broader Chinese CSI300 index rising by approximately 0.16%, closing at 4,467 points. The Shanghai Composite Index of the Shanghai Stock Exchange closed 0.38% higher at 3,826 points.
\nThe Hang Seng Index, the main index of the Hong Kong Stock Exchange, recorded a rise of approximately 0.84% \u200b\u200bin pre-market trading, reaching 25,630 points. Baidu led the index’s gains, with gains of more than 10%. In contrast, the South Korean Kospi index rose by approximately 0.45% in today’s session, closing at 3,219 points.
\nThe Indian Sensex index rose by approximately 0.40% before the close, trading at 81,031 points, while the Nifty 50 index rose by approximately 0.47%, trading at 24,856 points.
\nNew Zealand stock markets closed with gains today, as the NZX 50 index rose by approximately 0.44%, closing at 13,281 points, while the Australian ASX 200 index declined by approximately 0.24%, closing at 8,849 points. The Singapore Key Index rose by 0.06% in pre-closing trading.<\/p>\n
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Asian markets closed with collective gains at the end of trading on Monday, September 8, the opening session of the week. Japanese indices rose as investors assessed the announcement of the Japanese Prime Minister’s resignation, the decline of the yen, and focus on potential successors to Ishiba. Chinese exports fell short of expectations amid ongoing […]<\/p>\n","protected":false},"author":1,"featured_media":8315,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-8314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-18"],"acf":[],"yoast_head":"\n