Live news: Asian stocks buoyed by China stimulus hopes and Wall Street gains

Heineken's Beer Sales Fall, Affected

Madeleine Speed based in the capital city of England, London.

Heineken announced a significant drop in the amount of beer sold during the initial six months of the year, indicating a dissatisfactory outcome in the Asia Pacific region, which is of utmost importance for the company.

The global beer company ranked second in size revealed a significant decrease in its operating profit, experiencing a decrease of 22%. At the same time, the overall amount of beer sold by the company dropped by 5.6%. Prior predictions by analysts were not as pessimistic, with an anticipated drop of only 3.4%.

Heineken experienced a 6.6 percent increase in its earnings, which amounted to €17.4 billion in the first half of the year until July. This growth was slightly below the predicted expectations and was primarily influenced by the implementation of higher prices.

The Dutch firm adjusted its projected profit growth for the entire year to a range of zero to moderate single-digit figures.

Europe's Must-watch Today!

European Union economy: The countries using the euro as their currency are anticipated to experience a small increase in economic activity during the second quarter, and inflation among these nations is projected to continue declining, as indicated by the initial data that will be released today.

UK in Africa: The British foreign secretary, James Cleverly, stated to the Financial Times that he will strive for collaboration in the security field with African countries, as he embarks on a four-day journey to the continent.

Outcomes: Bank of Ireland, Heineken, Pearson, and Spectris provide updates.

Asian Stocks Rise On China Stimulus Hopes And Wall Street Gains

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Shares in Asian markets increased on Monday, boosted by the positive performance of US stocks towards the end of last week and expectations that the Chinese government would announce tangible actions to stimulate the stagnant economy.

The Hang Seng index in Hong Kong experienced a 1.7% increase, while China's CSI 300 saw a rise of 1%. Japan's Topix also climbed by 1.6%.

Newly published information on Monday revealed that the performance of China's service sector in July was lower than what was anticipated, and there was a decline in manufacturing activity. As a result, it further solidified predictions that the Chinese government would intervene to boost the economy.

US stocks experienced significant gains on Friday as the Federal Reserve's favored indicator of inflation dropped to its lowest point since the onset of the COVID-19 outbreak. The S&P 500 index climbed by 1 percent, while the Nasdaq saw a more substantial increase of 1.9 percent.

China's Slowing Economy Prompts Stimulus Vow

William Langley in the city of Hong Kong

Chinese manufacturing activity declined for the fourth consecutive month, while the growth in service and other industries experienced further deceleration in July. The government in Beijing faced challenges in stimulating a stagnant economic revival.

The manufacturing sector's purchasing managers' index, as officially reported, was 49.3, slightly surpassing the general agreement of 49.2. On the other hand, the non-manufacturing PMI, which encompasses industries like construction and agriculture, scored 51.5.

When the number is less than 50, it shows a decline, but if it is above 50, it suggests growth.

China's top governing body, the politburo, recently recognized the challenging journey the economy has been through in its recovery from the rigorous Covid-19 restrictions implemented over the years. In response, they have pledged to encourage spending and enhance job opportunities.

Top Picks For Asia Today

William Langley residing in Hong Kong

Outcomes: Mizuho Financial Group, Panasonic, and Sumitomo Mitsui Financial Group disclose their financial performance for the first quarter.

China is announcing its official purchasing managers' indices for July regarding the economic data. Previous indices indicated a decline in the manufacturing sector and a slowdown in the growth of the service sector as the economic recovery in China following the pandemic loses its momentum. Additionally, Hong Kong will be releasing its gross domestic product figures for the second quarter, while Pakistan will make a decision on its monetary policy.

Market Update: Futures in Hong Kong and Tokyo indicated an upward trend on Monday morning, as major indices are expected to match the recent gains seen in Wall Street towards the end of last week. US stocks experienced a rise on Friday, driven by the Federal Reserve's favored measure of inflation which reached its lowest point since the onset of the Covid-19 pandemic. This led to a 1% increase in the S&P 500 and a 1.9% surge in the Nasdaq Composite.

UK Govt Slashes Pollution Costs: The Latest Anti-green Step

David Sheppard and Rachel Millard in the British capital of London

The UK government has implemented measures to reduce the cost of pollution for businesses in Britain when compared to the EU. These reforms have weakened the carbon market, indicating that the Conservative party is deviating from its commitment to tackling climate change.

Whitehall has recently made public some alterations in the UK's carbon trading scheme, which has caught attention for providing more allowances to industries that are known for their polluting activities. As a result, carbon prices have significantly dropped when compared to European rates. This move has raised concerns among experts in the field, who are cautioning against its possible negative impact on green investments and the potential increase in fossil fuel consumption.

Find out additional information regarding the alterations made to carbon market reforms by clicking here.

UK Rates Set For 15-year High

There are not many guarantees in life, but it is highly likely that the Bank of England's monetary policy committee will gather on Thursday. The prevailing assumption among experts is that committee members will hike rates to the highest level in 15 years.

The uncertainty about the magnitude of the increase is highly contested among investors, as they are almost evenly divided on whether it will be a 0.25 or 0.5 percentage point rise.

The markets will also keep a close eye on the US employment report this Friday to see if there are any indications of a slowdown in the biggest economy in the world. Despite the Federal Reserve's efforts to tighten monetary policies, the job market in the US has remained strong.

Discover the complete schedule for the upcoming week by accessing the comprehensive calendar here.

Universities Seek Aid For England's Needy Students

Peter Foster located in London is blogging about

University officials have intensified their demands for government officials to enhance financial aid in England for students hailing from disadvantaged backgrounds in light of recent research revealing exorbitant increases in housing expenses.

The requests come after a study discovered that the median yearly payment for private housing for students, excluding London, during the 2023-24 school session, would amount to £10,227. This amount surpasses the highest student maintenance loan available, which is £9,978.

According to research conducted by PwC and StudentCrowd, a digital platform for the higher education industry, the escalating prices of private student accommodation can be attributed to various factors such as soaring energy expenses, rising staffing costs, elevated construction expenses, and increased debt-servicing charges.

Discover further information about education in the UK by clicking here.

Resolving Denmark-Sweden's Koran Burning Crisis

Richard Milne, Correspondent for Nordic and Baltic regions

Denmark and Sweden are aiming to reduce the incidents of setting fire to the Koran and other sacred texts amidst a deepening diplomatic crisis between the two Nordic nations.

The prime ministers of Denmark and Sweden conversed on Sunday in an attempt to discover measures to counteract robust legislation concerning freedom of expression, which has allowed for numerous instances of book burnings that target religious texts. Muslim ministers of foreign affairs were scheduled to partake in an urgent gathering on Monday to address the critical situation, facilitated by the Organization of Islamic Cooperation.

According to Lars Løkke Rasmussen, the foreign minister of Denmark, a total of five copies of the Quran were set on fire in front of foreign embassies in Copenhagen. Additionally, seven more copies were scheduled to be burned the following day.