Most of the Asian equity benchmarks traded higher in early deals on Monday, as the market sentiments got boosted with the better than expected manufacturing data reported in most of the markets and spurred optimism about the faster economic rebound. Technological shares were mostly in bullish trend with the hefty position building, oil stocks were also in higher note as crude oil climbed over night. Japan’s Nikkei soared higher followed by the continued expansion of manufacturing sector in July at a faster rate than expected. Among the Asian stocks, Japan, South Korea, Hong Kong, Taiwan, Indonesia and China are in positive territory. Bucking the trend, Singapore and Malaysia are trading in lower note.
Nikkei 225 up by 546.39 points or 2.00% to 27,829.98, Hang Seng rose by 237.62 points or 0.92% to 26,198.65, Taiwan Weighted enlarged by 120.99 points or 0.70% to 17,368.40, KOSPI higher by 16.50 points or 0.52% t0 3,218.82, Jakarta Composite hiked by 7.08 points 0.12% to 6,077.12, and Shanghai Composite widened by 50.95 points or 1.50% to 3,448.31 On the flip side, Straits Times down by 9.84 points or 0.31% to 3,157.10, and FTSE Bursa Malaysia KLCI curtailed by $4.79 points or 0.32% to 1,489.81.