Majority of the Asian markets have made a green start banking on hopes that the Federal Reserve and the European Central Bank may signal some stimulus to ramp up growth. Japanese market has moved higher after the nation’s jobless rate dropped in June, while the South Korean market was trading up by over a percent despite data showing industrial production of the country dropped. Meanwhile, Taiwan’s economy unexpectedly contracted in the second quarter, according to a preliminary data Gross domestic product fell 0.16 percent in the three months through June from a year earlier after expanding 0.39 percent in the previous quarter.
Hang Seng surged by 164.92 points or 0.84% to 19,750.32, Jakarta Composite gained 15.57 points or 0.40% to 4,115.70, Nikkei 225 added 61.53 points or 0.72% to 8,697.35, Kospi Composite gained 26.62 points or 1.43% to 1,869.92 and Taiwan Weighted added 37.89 points or 0.53% to 7,196.11.
Shanghai Composite was down by 1.43 points or 0.07% to 2,108.49, KLSE Composite was down by 1.57 points or 0.10% at 1,630.90 and Straits Times was down by 6.43 points or 0.21% to 3,026.03.