Asian markets traded in green in early deals on Monday, as the risk appetite in the market soared followed by the better-than-expected Chinese manufacturing activity for August. Investor confidence also improved with the introduction of new stimulus measures in China to boost capital markets, including trimming of stamp duty on stock trading by half. Additionally, optimism over pause in Fed interest rate hike with the better US data also boosted market sentiments. Japan’s Nikkei extended winning streak to sixth consecutive session with the positive global cues. However, some gains trimmed with the stronger local currency yen. Meanwhile, the monetary base in Japan rose by 1.2% on year in August, at 667.447 trillion yen, beating the projections of dip by 0.7 %, following the upwardly revised 1.3% contraction in July. The adjusted monetary base soared by 19.4% to 660.849 trillion yen. Hang Seng surged the most among Asian indices in the session, after Friday closure due to Typhoon Saola. The index got lifted with the strong rally in real estate amidst more property support from the Chinese government.
Nikkei 225 up 144.13 points or 0.44% to 32,854.75, Straight times rose by 6.11 points or 0.19% to 3,239.40, Hang Seng enlarged by 469.29 points or 2.49% to 18,851.35, Taiwan widened by 110.40 points or 0.66% to 16,755.34, Jakarta Composite lifted by 19.29 points or 0.28% to 6,996.94, KOSPI buoyed by 10.35 points or 0.40% to 2,574.06, Shanghai added by 35.13 points or 1.11% to 3,168.38, and FTSE Bursa Malaysia KLCI higher 0.35 points or 0.02% to 1,463.78.
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