Asian markets recuperate quickly after trade tension subsides

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The Asian markets are back to fighting form as they bounced back from losses on Monday trading after getting beaten by the inflicting trade dispute between China and the U.S.

The Shanghai Composite Index of China gained 1.3%. The Hang Seng Index of Hong Kong also improved by 0.2% after losing by 1.9% yesterday.

The Kospi of South Korea also managed to increase by 0.3% and Japan’s Nikkei climbed 1.1%.

Chinese industrial companies also showed signs of progression as Chinese statistics yielded a 2.6% increase in the month of July, regains from a tumble in June with a 3.1% fall.

However, the Chinese National Bureau of Statistics did not downplay the pressing “downward pressure” its economy is facing.

The central bank of China set the rate for the yuan at 7.081 per one U.S. dollar, posting another 11-year low.

Analysts said that China is not looking to engage in a currency showdown with the dollar and will not benefit either from the trade dispute that seems to be unending.

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