Asian stocks near one and a half year lows

Asian shares edged higher but held near 1-1/2 year lows while commodity currencies such as the Malaysian ringgit weakened further on Monday after Chinese data highlighted a deepening slowdown in demand in the world's industrial powerhouse. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged higher on the day but held near a 1-1/2 year low hit last month. It has fallen 16 per cent since May. China stocks rose. The CSI300 index rose 2.9 per cent to 4,018.87, while the Shanghai Composite Index gained 3.2 per cent to 3,864.10. China CSI300 stock index futures for August rose 3.6 per cent, to 3,993.2, 25.67. Australian shares close higher. The S&P/ASX 200 index finished up 0.63 per cent or 34.42 points at 5,509.2.  New Zealand's benchmark NZX 50 index closed down 3.6 points or less than 0.1 per cent at 5,865.0. The euro traded at $1.0967 EUR= while the yen was 124.37 to the dollar JPY=. Oil prices kept sliding on the global slowdown, a US gasoline glut and a rise in the US oil rig count, according to Reuters.
-SRS