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16-Oct2017

Asian markets trade mostly in green

Asian markets have made a positive start on Monday, extending their last week gains, following the positive lead from Wall Street on Friday and higher commodity prices on the back of strong Chinese import data released on Friday. The Japanese market is higher for a ninth straight day, tailing the gains on Wall Street and weaker yen. Local equities were also being supported by expectations Prime Minister Shinzo Abe's government will comfortably win elections held on Sunday. Though, the Chinese market has given up the early gains and was marginally in red, after the National Bureau of Statistics said that consumer prices in China were up 1.6 percent on year in September. That was in line with expectations, and down from 1.8 percent in August. There was some cautiousness in the region on fresh geopolitical concerns following comments from U.S. President Donald Trump on the Iran nuclear deal.

KOSPI Index was up by 3.34 points or 0.14% to 2,476.96, Taiwan Weighted added 21.33 points or 0.2% to 10,745.42, Jakarta Composite was higher by 23.08 points or 0.39% to 5,947.21, Nikkei 225 increased 138.57 points or 0.66% to 21,293.75, Hang Seng surged by 241.19 points or 0.85% to 28,717.62,

On the other hand, FTSE Bursa Malaysia KLCI declined by 3.97 points or 0.23% to 1,751.35 and Shanghai Composite was lower by 3.74 points or 0.11% to 3,386.78.


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