Most of the Asian markets traded higher in early deals on Monday, kindled by the short covering after indices retreated on concerns over sluggish employment growth in US and China. Moreover, investor sentiments kindled with the hopes over snapping interest rate tightening cycle by the central banks amid weaker than expected economic data. However, some of the gains were limited with the caution ahead to July inflation readings in the US and China this week. Japan’s Nikkei advanced in the session despite negative cues from Wall street overnight and pressure from stronger local currency yen.
Nikkei 225 up 59.24 points or 0.18 to 32,251.99, Straight times buoyed by 15.69 points or 0.48% to 3,308.08, Taiwan added by 168.29 points or 1% to 17,011.97, Jakarta Composite rose by 29.91 points or 0.44% to 6,882.75, and FTSE Bursa Malaysia KLCI higher by 1.13 points or 0.08% to 1,446.34.
On the flip side, Hang Seng down by 4.39 points or 0.02% to 19,535.07, KOSPI dipped by 18.60 points or 0.71% to 2,584.20, and Shanghai shrunk by 18.42 points or 0.56% to 3,269.66.
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