Monday, June 2, 2014

Monday Newsline:Good Data Encourages Asia;Matsuyama Wins

Several Asian markets were closed Monday for the Dragon Boat Festival,including China,Hong Kong and Taiwan.Of those that did open,the Nikkei rose strongly,up 2.07% on good reports.Japanese capex rose 7.4% in Q1,and the Nikkei saw its first monthly gain in five months in May.*
The China PMI indicated that factory activity increased by the most in five months,although home prices were down slightly on the month.Asian markets were also impressed by the record high achieved by the S&P 500 Index last week.The ASX 200 rose 0.47% and the KOSPI was up 0.35%.Indian stocks also gained,rising 1.0%.
Gross operating profits rose 3.0% on the quarter in Australia,helping the stock market there.
Overall,a positive economic climate is encouraging equity investors worldwide.*
In sport,the young Japanese golfer Hideki Matsuyama,22,sent cheer to his nation as he defeated American Kevin Na in a playoff at The Memorial Tournament in Dublin,Ohio.It was his first victory on US soil,and the first ever win by a Japanese golfer at the prestigious PGA event.
Australian Will Power won the first of two Indycar races comprising the Chevrolet Belle Isle Detroit Grand Prix on Saturday,and came in second in the Sunday race,maintaining his lead in the overall Indycar Series standings.Helio Castroneves of Brazil won Sunday's race.Both drivers are members of Team Penske.

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