Asian markets trade mostly in green on better Chinese data

Most of the Asian markets have made a green start, encouraged by the Chinese Premier’s statement ahead of report on gross domestic product that China’s economy was relatively good. Meanwhile, the Chinese Gross domestic product came in line to the median estimates, expanding at 7.4 percent in the third quarter from a year earlier, however it had expanded by 7.6 percent in the second quarter. China’s industrial production, retail sales and fixed-asset investment accelerated in September, reducing the urgency for added stimulus. Japanese market too has moved higher supported by report of US housing starts jump and the yen weakness.

Shanghai Composite surged by 21.73 points or 1.03% to 2,127.35, Hang Seng gained 120.90 points or 0.56% to 21,537.54, Jakarta Composite was up by 14.93 points or 0.34% to 4,352.58, KLSE Composite added 3.55 points or 0.21% to 1,664.22, Nikkei 225 surged by 146.13 points or 1.66% to 8,952.68, Straits Times gained 15.31 points or 0.52% to 3,060.52 and Kospi Composite was up by 3.57 points or 0.17% to 1,958.50.

Taiwan Weighted was the lone loser, down by 7.73 points or 0.10% to 7,458.42.