Most of the Asian equity indices snapped the day’s trade on higher note on Monday as investors hoped for progress in what could be a crucial week for curbing Europe’s debt crisis. Some encouraging signs for Europe emerged over the weekend, as Italy outlined a euro 30 billion ($40.2 billion) three-year austerity plan ahead of a key meeting of French and German leaders planned for later Monday. Moreover, investor confidence remained high after last week's rally that was spurred by the decision of six major central banks to provide cheap dollars to under-pressure lenders in a bid to boost financial markets.
Nikkei average rose over half a percent as banking shares edged higher, with Sumitomo Mitsui Financial Group up 2.2 percent Mizuho Financial Group up 2.9 percent and Nomura Holdings 2.8 percent higher. While, Hong Kong shares up by 0.73 percent in thin Monday trade, boosted by strength in the Chinese financial and energy sectors with some investors betting on more easing measures by Beijing after fresh data pointed to a cooling economy in need of policy support.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,333.23 | -27.43 | -1.16 |
Hang Seng | 19,179.69 | 139.30 | 0.73 |
Jakarta Composite | 3,780.79 | 0.96 | 0.03 |
KLSE Composite | 1,489.95 | 0.93 | 0.06 |
Nikkei 225 | 8,695.98 | 52.23 | 0.60 |
Straits Times | 2,766.23 | -7.13 | -0.26 |
Seoul Composite | 1,922.90 | 6.86 | 0.36 |
Taiwan Weighted | 7,098.08 | -42.60 | -0.60 |
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