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24 Jul 2018

• European markets traded higher on Tuesday, bouncing back from the weaker trade seen in the previous session.

The pan-European Stoxx 600 was up by 0.33 percent with almost every sector in the black. Autos and basic resources were the top performers in early deals, up by around 2 percent, as investors took a break from trade woes.

• Japan’s Nikkei share average bounced on Tuesday, trimming losses from the previous day as the yen’s rally stalled and shored up exporters, while upbeat forecasts lifted shares such as Showa Shell and Ono Sokki as the earnings season got underway.

The Nikkei ended the day up 0.51 percent at 22,510.48.

• Shanghai shares led Asia higher on Tuesday as China touted fiscal action to support the world’s second largest economy, while stellar results from internet giant Alphabet underpinned the tech sector generally.

Tech stocks got a boost from the parent of Google which jumped 3.6 percent after hours to hit a record high, valuing the group at a cool $870 billion.

Shanghai blue chips rose 1.5 percent to a one-month high, while MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.6 percent.

Reference: Reuters,CNBC

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