Asian stocks rise in June, with Japanese and South Korean markets performing well

From Investing.com: 2024-06-28 05:00:00

Asian stocks rose in June, fueled by hopes of a rate cut from the Federal Reserve amid a cooling U.S. economy. Chinese shares lagged due to trade war fears and concerns over economic recovery. U.S. stock futures edged up on speculation of a cooling economy, with focus on upcoming inflation data.

Japanese stocks surged with the Nikkei and TOPIX up 3.2% and 1.6% in June. Tokyo’s mixed inflation data showed weak underlying inflation, hinting at minimal growth. Other Asian markets also gained in June, with Australia’s ASX up 1.3% after recovering from losses.

South Korea’s KOSPI rose 5.9% in June, driven by chipmakers like SK Hynix and Samsung Electronics. India’s Nifty index soared nearly 7% despite BJP’s smaller majority win. Chinese markets lagged with indexes down 3% in June due to trade war fears and cooling stimulus optimism.



Read more at Investing.com: Asian stocks rise ahead of inflation data; June gains on tap By Investing.com