Asian markets settled higher on Monday, on the back of strong Wall Street gains last Friday with expectations of slower interest rate hikes by the US Federal Reserve. Chinese shares rose on comments from Chinese Central bank PBoC Official suggesting optimism surrounding China’s growth conditions. Market sentiments improved further after China reopened its borders for the first time in three years. Hong Kong shares jumped after shares of tech giant Alibaba surged after news emerged that founder Jack Ma ceded control of sister company Ant Group, following China's crackdown on tech companies since 2020. Meanwhile, Japanese market was closed on Coming-of-Age holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,176.08 | 18.44 | 0.58 |
Hang Seng | 21,388.34 | 396.70 | 1.89 |
Jakarta Composite | 6,688.26 | 3.70 | 0.06 |
KLSE Composite | 1,493.42 | 12.87 | 0.87 |
Nikkei 225 | -- | -- | -- |
Straits Times | 3,305.67 | 28.95 | 0.88 |
KOSPI Composite | 2,350.19 | 60.22 | 2.63 |
Taiwan Weighted | 14,752.21 | 378.87 | 2.64 |
