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Asian market latest: Asian markets rally after US delays some tariffs on China



Hong Kong's Hang Seng Index ( HSI ) received 0.5%, with technical shares at the forefront. Tencent advanced 2.7% ahead of its quarterly results, which will be released later in the day. AAC Technologies and Sunny Optical Technology jumped 1.5% and 9.8% respectively. Both are suppliers of Huawei, the Chinese technology company that has become a flashpoint in the trade war.
China's Shanghai Composite Index ( SHCOMP ) advanced 0.7%. [1
9659006] However, both indices compared previous gains after new data on China's retail sales and industrial production came out worse than expected.

Industrial production rose 4.8% in July, the lowest growth rate in 17 years. Analysts surveyed by Reuters expected an increase of 5.8%.

Retail sales increased by 7.6% in July, compared with an estimated increase of 8.6%.

  USA will delay tariff increase on Chinese mobile phones, toys

Japan Nikkei 225 ( N225 ) increased 0.9%. South Korea's Kospi ( KOSPI ) received 1.2%. Australia's S & P / ASX 200 added 0.1%.

The Chinese yuan also accumulated in the onshore market, after China's central bank ruled the currency higher for the first time in more than a week.

The yuan gained 0.3% from Tuesday's levels, trading at about $ 7.04 per US dollar in China,

But in the offshore market, where the yuan is moving more freely, it traded weaker than it did on Tuesday – to about 7.03 yuan per dollar. [19659015] Here are some other big moves at 10:30 am Hong Kong time:

  • Stocks for airport operators in southern China increased after Hong Kong's mass protests hit the city's airport and canceled flights for a second day Tuesday. Airports near Hong Kong are expected to benefit from the disruption in the city, CITIC Securities analysts wrote in a research report. Shenzhen Airport jumped 2.4%, after a 10% gain Tuesday.
  • Cathay Pacific Group ( CPCAY ) recovered more than 3.6% in early trade in Hong Kong. The airline's stock has been severely affected by the mass protests.
  • Shares in Asia took a positive lead from Wall Street. The US markets rose sharply on Tuesday. Dow ( INDU ) increased by about 373 points, or 1.4%. S&P 500 ( SPX ) and Nasdaq ( COMP ) received 1.5% and 2% respectively. [19659028]
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