Most of the Asian equity indices are trading higher in the early deals on Monday, even as China imposed new tariffs on US goods after previously floating the proposal last month. China has imposed tariffs of up to 25 percent on 128 US products, including frozen pork. Meanwhile, China's manufacturing activity data for the month of March painted a mixed picture of the world's second-largest economy. Volumes are expected to be subdued with many markets across the world still closed for the Easter holiday. Meanwhile, the Japanese market recovered after a weak start and is advancing, with shares of exporters rising on a weaker yen. Among the other Asian markets, Shanghai, Singapore, and Indonesia are also higher. Bucking the trend, Malaysia, South Korea and Taiwan are modestly lower. The markets in Hong Kong remain closed for the Easter holiday.
Nikkei 225 gained 91.74 points or 0.43% to 21,546.04, Jakarta Composite rose 39.54 points or 0.64% to 6,228.52, Shanghai Composite increased 5.58 points or 0.18% to 3,174.48, and Straits Times up by 5.67 points or 0.17% to 3,433.64.
On the flip side, Taiwan Weighted declined 11.51 points or 0.11% to 10,907.98, FTSE Bursa Malaysia KLCI dropped 2.6 points or 0.14% to 1,860.86, and KOSPI Index down by 0.01 points or 0% to 2,445.84.
