Sentiments in the Asian region remained bullish and most of the Asian counters snapped the day’s trade in the positive terrain on Monday in holiday-thinned trade after sluggish US growth figures boosted hopes for more measures from the Federal Reserve to help the world’s No. 1 economy. The Fed has already carried out two rounds of bond-buying known as quantitative easing to stimulate spending and drive down long-term interest rates. Low bond yields generally encourage investors to shift money to buying stocks. Meanwhile, Seoul shares edged up to a one-week closing peak on Monday, lifted by a rally in auto shares and a recovery in recently underperforming shipyards. Moreover, Hong Kong shares rose over one and a half percent, led by gains in Chinese banks after posting growth in quarterly profits, with the Hang Seng Index poised to end April in the black after a 5.2 percent slide in March.
Stock markets in Japan remained closed on Monday on account of Bridge Public Holiday while the Chinese bourses too were shut owing to May Day holidays and will re-open directly on Wednesday.
Asian Indices | Last Trade | Change in Points | Change in % |
Hang Seng | 21,094.21 | 352.76 | 1.70 |
Jakarta Composite | 4,180.73 | 16.75 | 0.40 |
KLSE Composite | 1,570.61 | 2.81 | 0.18 |
Straits Times | 2,978.57 | -3.01 | -0.10 |
Seoul Composite | 1,981.99 | 6.64 | 0.34 |
Taiwan Weighted | 7,501.72 | 21.22 | 0.28 |
Shanghai Composite | -- | -- | -- |
Nikkei 225 | -- | -- | -- |