Asian stocks ended mostly in green on Monday as a weakening yen aided market sentiment. Underlying sentiment remained somewhat cautious after global bond yields rose in the wake of comments from Federal Reserve Chair Janet Yellen on the economy. In a speech in Boston on Friday, Yellen offered an argument for running the US economy hot for a period to ensure moribund growth doesn't become an entrenched feature of the business landscape. Chinese shares fell the most in three weeks after a sudden bout of afternoon selling in dollar-denominated B shares amid weakness in the yuan, which hit a fresh six-year low against the greenback. Hong Kong shares drifted near 1-1/2-month lows, as a cautious mood prevailed ahead of a slew of China data this week that investors hope will paint a clearer picture of how the world's second largest economy is faring. Japanese shares eked out modest gains as the yen hovered near a three-week low against the dollar amid expectations of a US interest rate hike as early as December. Investors shrugged off a government report, which showed that Japan's industrial output rose less than initially estimated in August.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,041.17 | -22.64 | -0.74 |
Hang Seng | 23,037.54 | -195.77 | -0.84 |
Jakarta Composite | 5,410.30 | 10.42 | 0.19 |
KLSE Composite | 1,653.71 | -5.26 | -0.32 |
Nikkei 225 | 16,900.12 | 43.75 | 0.26 |
Straits Times | 2,817.07 | 1.83 | 0.07 |
KOSPI Composite | 2,027.61 | 4.95 | 0.24 |
Taiwan Weighted | 9,176.22 | 11.05 | 0.12 |