A currency trader passes by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, July 29, 2024. Currency traders watch monitors near the screen showing the Korea Composite Stock Price Index , top left, and the foreign exchange rate between U.S.
“In a monumental week for macro watchers, everyone is hoping for calm while bracing for the inevitable storm of volatility,” Stephen Innes of SPI Asset Management said in a commentary. Hong Kong’s Hang Seng added 1.6% to 17,287.28 and the Shanghai Composite index rose 0.4% to 2,893.08 after official data on Saturday showed that industrial profits rose 3.5% in the first half of 2024 compared with last year. That was a glimmer of positive news following recent interest rate cuts and other piecemeal stimulus that followed a top-level policy meeting of the ruling Communist Party earlier this month.
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