Asian markets traded mostly higher in early deals on Monday, after US employment data for July, showed a more modest decrease than anticipated. These figures eased concerns regarding an imminent interest-rate hike by the Federal Reserve. However, market uncertainty continues over the timing of the reopening of the Strait of Hormuz. Japan’s Nikkei soared in the session followed by sharp dip in current account surplus for June, as strong sales of AI tech abroad were cancelled out by higher import costs from buying more crude oil. Softer local currency yen also boosted the investor sentiments. Meanwhile, Singapore market was closed for trading on account of the National Day holiday.
Nikkei surged by 1,376.29 points or 2.10% to 66,983.00, Hang Seng rose by 156.97 points or 0.61% to 25,825.00, Taiwan weighted soared by 697.06 points or 1.58% to 44,922.97, KOSPI Index added by 42.77 points or 0.68% to 6,301.54, and Shanghai Composite lifted by 4.22 points or 0.11% to 3,944.26
On the flip side, Jakarta Composite lower by 31.25 points or 0.49% to 6,378.40, and FTSE Bursa Malaysia KLCI index narrowed by 2.04 points or 0.12% to 1,733.71.
