Asian stock markets boosted by growth in Chinese corporate profits Jul 28th

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BEIJING, China – Asian stock markets were mostly higher Monday, shrugging off jitters about stiffer Western sanctions against Russia, after China reported strong corporate profits.
KEEPING SCORE: China’s benchmark Shanghai Composite Index surged 1.7 per cent to 2,161.20. Tokyo’s Nikkei 225 added 0.5 per cent to 15,540.47 and Hong Kong was up 0.6 per cent at 24,359.59. South Korea’s Kospi gained 0.4 per cent to 2,042.10. Sydney’s S&P/ASX 200 bucked the regional trend, shedding 0.2 per cent to 5,574.20.
CHINESE PROFITS: Profits at China’s industrial enterprises soared 17.9 per cent in June over a year earlier, the government reported. For the first half of the year, profits were up 11.4 per cent, a new high for that period.
RUSSIA TENSIONS: Asian stocks rose despite declines in U.S. and European markets on Friday after weak earnings from Visa and Amazon and an agreement by European governments to tighten sanctions on Russia. They will limit trade in defence, technology and other goods and proposed restricting access to European capital markets for Russian state-owned companies…

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