Asian stocks rose on Monday

28.08.2017

Stock indices of the Asia-Pacific region finished Monday session in positive territory session, while the Hong Kong indicator during the session exceeded 28,000 points for the first time since May 2015.

The consolidated stock index of the MSCI Asia Pacific region grew by 0.1%.

The Hong Kong Hang Seng gained 0.1%, while the Chinese Shanghai Composite rose 0.9%.

South Korean KOSPI fell 0.35%, while the Australian S&P/ASX 200 fell 0.6%.

The Japanese Nikkei 225 index has not changed much, while the wider Topix has grown by 0.2%.

Participants in the Asian market assessed the possible consequences of Hurricane Harvey in the US and the speeches of the heads of the central banks of the world at the economic symposium in Jackson Hole.

Hurricane Harvey, which increased to the fourth category, has become the most powerful hurricane in the US since 2004. As a result of heavy rains and floods, a number of large refineries stopped operating, accounting for about 10% of all refining capacities in the country.

Meanwhile, the market remained confused after the statements of Federal Reserve Chairman, Janet Yellen, and her colleague from the European Central Bank (ECB), Mario Draghi, who did not mention monetary policy in their speeches in Jackson Hole.

Shares of the Chinese supplier of parts for the iPhone, AAC Technologies, soared at 11% in Hong Kong after the company reported a 57% increase in profits in the first half of the year.

The price of securities of Australian banks fell: the capitalization of the Commonwealth Bank of Australia fell 1.3%, Westpac lost 1.8%, and ANZ Banking Group fell 0.5%.

The shares of the Hong Kong developer Agile Group Holdings increased 4.3%. The company reported an increase in profits for the first half to 1.86 billion Yuan ($ 280 million).

Securities of Samsung Electronics fell 2%. The South Korean firm announced plans to invest $ 7 billion in the production of microchip memory in China.

The market value of Chinese Bank of Communications Co and China Life Insurance Co rose more than 1%.

Capitalization of Chinese companies Orient Securities and Huatai Securities increased by 10% on rumors that the state investment company China Securities Finance increased its investments in a number of brokerage companies in the country.

Shares of China Shenhua Energy went up 2.1% on news that regulators approved the merger of its parent company Shenhua Group and one of China's largest generating state corporations, China Guodian Corp.

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