Greece opinion poll powers Asian counters

Sentiments turned bullish in the Asian region and all the major equity indices barring Jakarta Composite snapped the day’s trade in the positive terrain on Monday, after an opinion poll indicated that Greece’s pro-austerity conservative New Democracy party swung into first place ahead of next month’s elections. But, the gains remained capped amid reports that the Spanish government may consider tapping the euro zone’s temporary rescue fund in the coming weeks.

Meanwhile, mainland Chinese shares rallied over a percentage point amid expectations for a policy stimulus, while Hong Kong indices surged by 0.47% on Monday, lifted by strength in Chinese financials and growth-sensitive sectors, although below-average turnover suggested gains could be short-lived. Moreover, Taiwan stocks rose about a percentage point, snapping a three-day losing streak, led by banking and tech heavyweights such as TSMC.

South Korean markets remained closed on Monday for a public holiday on account of birthday of Gautama Buddha.