Most of the Asian equity benchmarks are trading higher in the early deals on Monday as investors’ sentiments bolstered by solid corporate earnings news and economic data as well as the rally in crude oil prices. Japan’s Nikkei share average rose following a US market rally, with chip-related stocks and insurance firms leading gains. Though, China stocks dropped from two-year highs as investors booked profits in consumer and healthcare firms that recently rallied firmly. Among the other Asian markets, South Korea, Singapore, Malaysia and Taiwan are also higher. Bucking the trend, Hong Kong, and Indonesia are edging lower.
Nikkei 225 gained 3.8 points or 0.02% to 23,635.68, FTSE Bursa Malaysia KLCI rose 10.2 points or 0.55% to 1,864.12, KOSPI Index added 24.36 points or 0.95% to 2,599.12, Taiwan Weighted increased 29.8 points or 0.27% to 11,176.90, and Straits Times was up by 15.25 points or 0.43% to 3,582.39.
On the flip side, Shanghai Composite dropped 19.15 points or 0.54% to 3,538.98, Hang Seng declined 11.61 points or 0.04% to 33,142.51 and Jakarta Composite was down by 1.88 points or 0.03% to 6,658.74.
