Sat, 19 Sep 2020

SYDNEY, NSW Australia - Stocks in China and Australia were on the move on Monday.

In China, stocks rose after data showed that China's factory deflation fell in July, on the back of a rise in global oil prices and as industrial activity climbed back towards pre-pandemic levels.

The Shanghai Composite index climbed 25.22 points or 0.75% to 3,379.25. The blue-chip CSI300 index rose 0.36%.

The Australian market had its best day in nearly 3 weeks, boosted by banking and other financial stocks.

The S&P/ASX 200 index rose 1.76% to 6,110.2 points by the close. The broader Australian All Ordinaries strengthened by 102.20 points or 1.66% to 6,247.10.

"The financial sector has under-performed the market a little bit over the past few weeks, and this might be a catch up play before Commonwealth Bank's results later this week," James Tao, market analyst at CommSec told Reuters Thomson Monday.

New Zealand's benchmark S&P/NZX 50 index was also assisted by financials, rising 0.30%.

In Japan, the Nikkei 225 fell 88.26 points or 0.39% to 22,329.94.

Hong Kong's Hang Seng fell 154.19 points or 0.63% to 24,372.43. Investors were unsettled by the arrest of Apple Daily newspaper publisher Jimmy Wei under the new controversial National Security Law His two sons were also arrested and his newspaper's offices raided.

The U.S. dollar was relatively quiet, edging up against a basket of currencies, but only by a matter of a few basis points.

The euro saw out the Asian trading session around 1.1772. The British pound was slightly softer at 1.3077. The Japanese yen was little changed at 105.94. The Swiss franc eased a touch to 0.9155.

The Canadian dollar fell to 1.3378. The Australian dollar was little changed at 0.7160. The New Zealand dollar fell a tad to 0.6598.

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