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Chinese stocks lead Asian stocks up

6 Jul 2020 01:05 PM

APAC stocks rose during Monday's trading session, with Chinese stocks leading these regional gains.

The Shanghai Composite Index rose by 5.34%, the Shenzhen Composite Index by 3.7%, and the Hong Kong Hang Seng Index by 3.34%. Elsewhere in the region, Japan's Nikkei 225 rose by 1.83%, while the TOPIX index added 1.6%, and the South Korean Kospi grew 1.64%.

Meanwhile, shares in Australia bucked the regional trend and edged lower, with the S&P/ASX 200 index dropping 0.42%.

Overall, the MSCI Asia Index (excluding Japan) jumped 1.6%.

These rises came despite the World Health Organization's statement on Saturday that more than 200,000 cases of coronavirus infection had been confirmed over a 24-hour period - a record high.

In the United States, Florida and Texas reported daily record highs for coronavirus infections on Saturday. The recent increase in cases has raised concerns about the possibility of renewed lockdowns to curb the spread of the virus, which could adversely affect the prospects of a global economic recovery.

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