Asian markets settled mostly higher on Monday with Japanese shares gained, hitting 39,000 points for the first time in a month, on rising hopes of a September interest rate cut from the US Federal Reserve. Meanwhile optimism around Chinese economic recovery and announcements of Chinese stimulus measures to support the country's struggling property market have also supported market sentiments. The People's Bank of China kept its benchmark loan prime rate unchanged, while China's finance ministry auctioned 30-year bonds at a yield of 2.57% on Friday, largely in line with expectations. The stimulus measures are also included a reduction of the down payment for housing loans, cutting mortgage interest rates for first and second home purchases, and removing the floor on mortgage rates.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,171.15 | 17.12 | 0.54 |
Hang Seng | 19,636.22 | 82.61 | 0.42 |
Jakarta Composite | 7,266.69 | -50.55 | -0.70 |
KLSE Composite | 1,627.50 | 10.88 | 0.67 |
Nikkei 225 | 39,069.68 | 282.30 | 0.72 |
Straits Times | 3,314.05 | 0.57 | 0.02 |
KOSPI Composite | 2,742.14 | 17.52 | 0.64 |
Taiwan Weighted | 21,271.63 | 13.16 | 0.06 |
