Asian markets traded in green in early deals on Monday, due to risk appetite in the market after better-than-expected US CPI data for May spurred optimism that the Federal Reserve’s continued hawkish monetary policy is having its desired outcome. Moreover, intensified bets on fresh stimulus by Beijing after a Communist party meeting later this month, and US Treasury Yellen‘s travel to China this week boosted investor confidence. Japan’s Nikkei soared above 33-year highs with renewed rally in technology stocks. Additionally, reports on upbeat business sentiment for Q2 with the weaker local currency yen also buoyed the index further.
Nikkei 225 surged 540.20 points or 1.64% to 33,729.24, Straight times rose by 7.78 points or 0.24% 3,213.68, Hang Seng enlarged by 327.37 points or 1.70% to 19,243.80, Taiwan added by 169.19 points or 1.00% to 17,084.73, KOSPI widened by 37.36 points or 1.46% to 2,601.64, Jakarta Composite climbed by 24.06 points or 0.36% to 6,685.94, Shanghai jumped by 41.18 points or 1.27% to 3,243.24 and FTSE Bursa Malaysia KLCI lifted by 12.90 points or 0.94% to 1,389.58.
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