Most of the Asian equity indices were trading in green terrain on Monday following the modest gains on Wall Street on Friday, though weakness in crude oil prices weighed on energy stocks. Crude oil prices moved sharply lower on Friday amid uncertainty about whether the members of OPEC will be able to agree on a cut in production at a meeting next week. Moreover, the U.S. dollar retreated against its major peers, including the Japanese yen. In South Korea, the Kospi recovered from earlier losses to trade up by over one third of a percent. Hundreds of thousands people rallied in Seoul at the weekend for the fifth straight week of protests against President Park Geun-hye, who is embroiled in a scandal over influence-peddling.
FTSE Bursa Malaysia KLCI rose 0.93 points or 0.06% to 1,628.19, KOSPI Index gained 7.06 points or 0.36% to 1,981.52, Shanghai Composite increased 20.85 points or 0.64% to 3,282.79, Taiwan Weighted added 63.17 points or 0.69% to 9,222.24 and Hang Seng was up by 196.15 points or 0.86% to 22,919.60.
On the flip side, Nikkei 225 decreased 24.33 points or 0.13% to 18,356.89 and Jakarta Composite was down by 11.83 points or 0.23% to 5,110.27.