Asian markets ended mostly higher on Monday despite some US Fed policymakers signalled that the topic of a faster taper might be on the table at the Fed’s next meeting in December. Chinese stocks gained as the country's central bank signalled possible easing measures to aid the economy's recovery after a sharp downturn in recent months fuelled by a property slump. Seoul stocks rallied after data showed South Korea's exports logged double-digit growth in the first 20 days of November. However, Hong Kong shares declined after reports that advisers to the Chinese central bank were pointing to risks of inflation and slow growth leading to ‘quasi-stagflation’ signalled the conflicting pressures Beijing is facing. Resurgence of coronavirus cases in the United States and Europe and renewed lockdown measures in Austria has made investors cautious. While, investors are waiting to see if Joe Biden decides to keep Jerome Powell at the US Fed’s helm.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,582.08 | 21.71 | 0.61 |
Hang Seng | 24,951.34 | -98.63 | -0.39 |
Jakarta Composite | 6,723.39 | 3.13 | 0.05 |
KLSE Composite | 1,526.87 | 1.33 | 0.09 |
Nikkei 225 | 29,774.11 | 28.24 | 0.09 |
Straits Times | 3,237.08 | 4.74 | 0.15 |
KOSPI Composite | 3,013.25 | 42.23 | 1.42 |
Taiwan Weighted | 17,803.54 | -14.77 | -0.08 |
