11:45 AM EST – US FOMC member Bullard speaks
1:25 PM EST – US FOMC member Kashkari speaks
7:50 PM EST – United Kingdom BRC Retail Sales Monitor (July)
7:50 PM EST – Japan’s adjusted current account
After gaining for seven consecutive trading weeks, China’s Shanghai Composite Index started this week on a stronger note. Sanctions on North Korea’s missile and nuclear programs by the United Nations Security Council improved the sentiment in Asian markets.
The Shanghai Composite Index rose on Monday amid higher expectations about July’s economic data that will be released this month. Chinese markets are looking forward to the release of the exports, imports, trade balance, and inflation data that will be released on August 8. The industrial output, investment data, and retail sales are scheduled to release next week. Better-than-expected economic data reports in 1H17 increased the expectations for China’s third quarter reports. The technology and healthcare sectors pushed the Shanghai Composite Index higher on Monday. The week started on a positive note.
On August 7, the Shanghai Composite Index rose 0.53% and ended the day at 3,279.46. The SPDR S&P China ETF (GXC) rose 0.44% to $97.20 on August 4.
After gaining for four consecutive trading weeks, Hong Kong’s Hang Seng Index started this week on a positive note. The Hang Seng Index started higher on Monday amid support from strength in the technology, financials, and resources sectors. The improved sentiment in the US amid stronger jobs data released on Friday also supported the Hang Seng Index. It rose 0.46% and closed the day at 27,690.36. The iShares MSCI Hong Kong ETF (EWH) fell 0.08% to $24.6 on August 4.
After falling for three consecutive trading weeks, Japan’s Nikkei Index started this week on a stronger note. The improved the market sentiment in the US amid the strong jobs report helped the Nikkei Index rise on Monday. With improved strength, the Nikkei Index recaptured the 20,000 level. It rose 0.52% and closed the day at 20,055.89.
In the next part, we’ll discuss how European markets performed in the morning session on August 7.