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Latest Asian Market: Asian markets rally after US delays some tariffs on China



Hong Kong Hang index index (HSI) gained 0.5%, with the technology fund leading the way. Tencent advanced 2.7% ahead of its quarterly results, which will be released later in the day. AAC Technologies and Solar Optical Technology jumped 1.5% and 9.8%, respectively. Both are suppliers to Huawei, a Chinese technology company that has become a point of thought in the trade war.
China Shanghai Composite Index (SHCOMP) advanced 0.7%.
But both indices have seen earlier gains as new data on China's retail sales and industrial production deteriorated as expected.

Industrial production rose 4.8% in July, the slowest growth in 17 years. Reuters analysts expect a 5.8% increase.

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

US to delay tariff increases on Chinese mobile phones, toys
Japan Nicaean 225 (N225) increased by 0.9%. South Korea Buckets (COPY) gained 1.2%. The Australian S&P / ASX 200 added 0.1%.

Chinese yuan also plummeted offshore after China's central bank held its currency higher for the first time in more than a week.

The yuan gained 0.3% on Tuesday, trading at around $ 7.04 for the US dollar in China.

But in the offshore market, where the yuan moves freely, it was trading lower than it was on Tuesday – to about 7.03 yuan per dollar.

Here are some other great moves at 10:30 am. Hong Kong time:

  • Shares of airport operators in southern China have risen after mass protests in Hong Kong hit the city's airport and disrupted flights on Tuesday the second day. Airports near Hong Kong are expected to benefit from the disruption in the city, analysts at FITIK Securities said in a research report. Shenzhen Airport jumped 2.4% after gaining 10% on Tuesday.
  • Ketay Pacific Group (CPCAY) returned more than 3.6% in early trading in Hong Kong. The airline's actions have been hit hard by mass protests.
  • Shares in Asia have received positive leadership from Wall Street. US markets rose on Tuesday. At Dow (INDU) increased by 373 points, or 1.4%. At S&P 500 (SPX) and Nasdaq (KOMP) gained 1.5% and 2% respectively.

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