The Asian markets have made an all green start with some of the indices extending their longest weekly gains on speculation that China and US, the world’s two biggest economies will take more measures to spur economic growth. Chinese Premier Wen Jiabao signaling that there’s more room for fiscal and monetary policy to support growth, has said at the World Economic Forum that the country still has “ample strength” to meet its economic goals for the year. Japanese market has surged by over a percent as country’s machinery orders increased more than estimated in July. Orders climbed 4.6 percent gaining 5.6 percent in June. South Korea’s Kospi Index too was trading higher by one and half a percent, as the government reported the jobless rate was unchanged in August.
Shanghai Composite was up by 4.50 points or 0.21% to 2,125.05, Hang Seng gained 152.20 points or 0.77% to 20,010.08, Jakarta Composite was higher by 5.39 points or 0.16% to 4,160.52, KLSE Composite was tad higher by 0.07 points to 1,614.30, Nikkei 225 surged by 128.15 points or 1.46% to 8,935.53, Straits Times added 9.73 points or 0.34% to 3,026.77, Kospi Composite surged by 30.33 points or 1.59% to 1,950.16 and Taiwan Weighted gained 74 points or 0.99% to 7,559.49.