Asian shares hit one-year high
On Monday, Asian stocks managed to hit a one-year peak, following gloom American economic growth data, which ruined hopes that the Fed would lift interest rates in the nearer months.
American GDP surged at a 1.2% annual rate during the April-June period, which is less than a half of a 2.6% growth rate economists had expected.
Market participants have been shifting their money to Asia, that’s likely to be least influsenced by Brexit, while the Fed appears to be in no hurry to increase its interest rates.
MSCI's broadest index of Asia-Pacific stocks outside Japan soared 1.3%, getting to the highest level for about a year.
European shares are supposed to head north, with spread betters looking at surge of 0.7% in Germany's DAX as well as 0.4% in the UK’s FTSE.
Asian markets demonstrated quite limited reaction to a better-than-expected private poll on China's factory sector.
Meanwhile, the Caixin/Markit Manufacturing Purchasing Managers' index or PMI ascended to a 1 1/2-year peak of 50.6, thus beating market expectations for 48.7.