Most of the Asian equity benchmarks are trading higher on Monday, in line with positive trend from US equities in Friday trade, amid expectations for further interest rate cut by Federal Reserve. However, market players were cautious as hopes for a breakthrough in the impending US-China trade negotiations dulled, following a report that Chinese officials may not be as willing to bend. Japan's Nikkei is opened higher, but slipped into negative territory with reports on dulled prospects for US-China trade deal. Shanghai and Hang Seng markets are closed for a holiday. Among the other Asian markets, Singapore, Taiwan, South Korea, and Malaysia are in positive lead. Bucking the trend, Japan and Indonesia is trading lower.
Straits Times widened 20.27 points or 0.66% to 3,098.63, Taiwan Weighted enlarged 38.89 points or 0.36% to 10,933.37, KOSPI Index increased 2.74 points or 0.14% to 2,023.43, and FTSE Bursa Malaysia KLCI rose 0.25 points 0.02% to 1,557.92.
On the flip side, Nikkei 225 down 42.10 points 0.20% to 21,368.10, and Jakarta Composite reduced by 30.24 points or 0.50% to 6,031.01.
