Most of the Asian equity benchmarks are trading up in the early deals on Monday following Wall Street’s gains as investors looked ahead to economic data this week from China, Australia and Korea. Chinese stocks rose modestly with many investors keeping to the sidelines as they ponder the monetary policy outlook as the economy fails to show signs of a sustained recovery. Meanwhile, Japan's Nikkei share average rose to more than a one-month high as the dollar rose against the yen after US Federal Reserve Chair Janet Yellen hinted a near-term interest rate hike, while news that Japan's government is delaying a sales tax hike also supported sentiment. Among the other Asian markets, Singapore, Indonesia, Hong Kong and Taiwan are also higher. Bucking the trend, Malaysia, and South Korea market are trading lower.
Nikkei 225 surged 182.99 points or 1.09% to 17,017.83, Hang Seng gained 143.01 points or 0.70% to 20,719.78, Shanghai Composite spurt 5.14 points or 0.18% to 2,826.19, Straits Times added 2.01 points or 0.07% to 2,804.52, Taiwan Weighted increased 41.89 points or 0.49% to 8,505.50, and Jakarta Composite was up by 22.67 points or 0.47% to 4,837.41.
On the flip side, KOSPI Index declined 2.77 points or 0.14% to 1,966.40, and FTSE Bursa Malaysia KLCI was down by 9.89 points or 0.60% to 1,627.30.