Most of the Asian equity benchmarks traded higher in early deals on Monday, as the upbeat economic data from China and the prospects of the stimulus-driven global economic recovery after passage of the US coronavirus relief package last week boosted risk appetite of the market participants. Oil stocks advanced with the higher crude oil rates. Japan’s extended its gains to fifth straight session amid optimism about global recovery, while stronger yen limited some gains. Among the other Asian markets, Singapore, Hong Kong, Taiwan, and Malaysia are in green. Bucking the trend, South Korea, Indonesia and China on lower note.
Nikkei 225 up by 19.84 points or 0.07% to 29,737.67, Straits Times rose by 7.88 points or 0.25% to 3,103.10, Hang Seng increased 63.10 points or 0.22% to 28,802.82, Taiwan Weighted widened 1.01 points or 0.01% to 16,256.19 and FTSE Bursa Malaysia KLCI higher by 4.86 points 0.30% to 1,620.55.
On the flip side, KOSPI Index down by 3.13 points or 0.10% to 3,051.26, Jakarta Composite dipped by 27.96 points or 0.44% to 6,330.25, and Shanghai Composite lower by 33.07 points or 0.96% to 3,420.01.