Adding to recent strong gains, most of the Asian equity indices are trading higher on Monday, but the gains remained capped as investors remained on sidelines awaiting Chinese growth data due later in the week. However, bucking the trend, Singapore’s benchmark Straits Times declined by about half a percent after the government introduced new measures last week to cool the local property market, including making it more expensive for foreigners to buy property.
Shanghai Composite soared 46.24 points or 2.06% to 2,289.23, Hang Seng rose 157.18 points or 0.68% to 23,421.25, Jakarta Composite surged 43.36 points or 1.01% to 4,349.27, KLSE Composite increased 1.60 points or 0.10% to 1,684.30 and KOSPI Composite was up by 6.10 points or 0.31% to 2,002.77.
Straits Times dropped 14.94 points or 0.46% to 3,201.56 and Taiwan Weighted was down by 43.64 points or 0.56% to 7,775.51.
Japanese Nikkei remained shut for trade today account of Coming of Age (Adults') Day.
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