Foreign Markets
Markets soared overnight in Asia as China continues to see positive economic data. After a report Friday showed manufacturing sentiment rose for the second straight month, GDP for the country is expected to climb 7% in the second quarter; a 8 basis point gain over the previous quarter. The Hang Seng index closed up 860.06 points, or 5.5 %, to 16,381.05. China’s Shanghai Composite Index rose 3.3 % to 2,559.91, while South Korea’s Kospi index climbed 2.1 % to 1,397.92 which was its highest finish of the year.
After being closed Friday, Germany and France resumed trading while British markets took the day off for a public holiday. Germany’s DAX was up 83.87 points, or 1.8 %, at 4,853.32, while France’s CAC-40 rose 38.18 points, or 1.2 %, to 3,198.03.
