Asian markets were largely gainers this morning,Monday,on hopes that the European debt crisis is easing and some positive U.S. retail sales data.The Australian ASX 200 was up 20.00,while Hong Kong's Hang Seng Index rose 151.64 and Japan's Nikkei 225 gained 55.44.Singapore's Straits Times Index was up 23.12.
The Chinese economy faces a sluggish landing,according to Credit Suisse.The existing homes market cooled off in May on government measures to rein it in.Chinese stocks have fallen to 9-month lows on the economic uncertainty.
In Japan,the trade deficit rose more than expected to 853.7 billion yen.Imports were up 12.3,and exports fell 10.3.This is because of continued supply chain disruption from the March 11 earthquake and tsunami.
New Zealand,however,greeted positive economic news this morning.Manufacturing volumes were up 1.9.As well,the services industry expanded at a faster pace in May.
Hong Kong was a toasty 90F on Monday under scattered clouds.The winds were NE at 8 mph,and the humidity was 62%.
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