The Asian markets concluded Monday’s trade mostly in green, Chinese stocks gained for the first time in 10 trading sessions, indicating improving confidence among investors concerned that a spike in interbank lending rates last week could gum up the country’s financial system. Nikkei Stock Exchange was closed for the day on account of Emperor’s Day holiday. Borrowing costs in China’s money market started soaring again following a brief fall earlier Monday, as the central bank’s recent fund injection failed to appease jittery investors amid a seasonal surge in demand for cash by banks. The seven-day repurchase-agreement rate, a benchmark measure of the cost that banks charge each other for short-term loans, rose to 9.8%, up from 8.2% and its highest level since it hit 11.62% on June 20, at the peak of China’s summer cash crunch.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2089.71 | 4.91 | 0.24 |
Hang Seng | 22921.56 | 109.38 | 0.48 |
Jakarta Composite | 4189.61 | -5.95 | -0.14 |
KLSE Composite | 1832.86 | -5.17 | -0.28 |
Nikkei 225 | - | - | - |
Straits Times | 3116.22 | 21.74 | 0.70 |
KOSPI Composite | 1996.89 | 13.54 | 0.68 |
Taiwan Weighted | 8456.46 | 47.93 | 0.57 |