Today, On August 9th, Asian-Pacific stock indexes are showing confident growth once again as China’s recent report has shown an inflation slowdown. Moreover, the Australian labor market is strengthening as well.
Consumer price growth in China slowed down in July, thus reaching the lowest rate of inflation since January 2010. A the same time, the rate of unemployment declined by 0.1% down to 5.2%.
MSCI Asia Pacific (composite index) gained 0,5%. Nikkei 225 (Japan) boosted by 1,2%, Hang Seng (Hong Kong ) increased by 0,82%, Kospi (South Korea) - by 1,77%, S&P/ASX 200 (Australia) - by 0,2%.
The stocks of metal manufacturers are showing confident growth as well. In particular, Aluminum Corp. of China Ltd gained 1,5%, Kobe Steel Ltd. - 1,4%, Jiangxi Copper Co. - 0,9%, JFE Holdings Inc. - 4,4%.
For reference, Asian-Pacific stock markets have been growing for the 4th consecutive trading session.
According to , Nikkei 225 (as expected) broke above the 8967 high yesterday. Therefore, wave 4 shifted slightly to the right and took the irregular form. The price is expected to be complete sub-wave 5 together with wave 3 or C of a bigger wave level.
