The Asian markets have made mostly a positive start and some of the indices are even up by over a percent, taking cues from the US markets and on speculation China’s economy may be stabilizing. The Chinese PMI increased last month and now the investors are focusing on the ruling communist party’s once-a-decade leadership transition that begins with a congress starting November 8 in Beijing. Japanese markets has gained over a percent, rising for a third day, as the yen weakened after US employment, manufacturing and consumer confidence data signaled improvement in the world’s largest economy. Meanwhile, the Bank of Japan may remain under pressure to add monetary stimulus after it expanded an asset-purchase fund.
Shanghai Composite was down by 5.54 points or 0.26% to 2,098.88 and KLSE Composite declined by 7.11 points or 0.42% to 1,668.63.
On the other hand, Hang Seng surged by 276.89 points or 1.27% to 22,098.76, Jakarta Composite gained 4.17 points or 0.09% to 4,338.59, Nikkei 225 gained 100.82 points or 1.13% to 9,048.45, Straits Times was up by 18.44 points or 0.61% to 3,045.68, Kospi Composite was up by 19.72 points or 1.03% to 1,917.97 and Taiwan Weighted was up by 30.65 points or 0.41% to 7,208.06.
