Recovery Signs for Chinese Economy led Asian Markets Higher
As of January 29, Nikkei 225 index rose by 0.39% provided by large gains in banking shares and technology shares such as Samsung Electronics Co. Some reports say that rally in banking shares will lead increases in the bank’s earnings.
While Hang Seng Index in Hong Kong slightly fell by 0.07%, Shangai Composite Index rose by 0.53% provided by the following news:
- Increasing optimism for Chinese economy resulted from that the recent economic data showed recovery signs
- Gains in energy and financial shares
- Expected increase in government spending for urbanization