Asian markets have made a positive start on expectation of monetary policy by major Central banks of Europe and US to support the faltering global economy. There were some reports stating that Chinese banks’ reserve requirements may be reduced three more times this year.
Last night, the US market rallied while the European market closed at two months high on hopes of more stimulus action as well as reports on better than expected data of new orders for manufactured goods in the US.
Shanghai Composite was slightly up by 0.11 points to 2,229.30, Hang Seng Index soared 35.39 points or 0.18% to 19,770.92, Jakarta Composite surged 29.73 points or 0.73% to 4079.44, KLSE Composite rose 5.06 points or 0.31% to 1,612.83, Nikkei 225 gained 42.63 points or 0.48% to 9111.61, Straits Times Index advanced 10.10 points or 0.33% to 2,955.05 and Taiwan Weighted climbed 2.48 points or 0.04% to 7,421.94. Kospi Composite gained 7.12 points or 0.34% to 1874.69.