Stocks soared on the Tokyo Stock Exchange on Monday.
The TOPIX index of all First Section issues surged 22.53 points, or 1.4 percent, to 1,627.93, after falling 1.12 points the previous trading day.
The market opened sharply higher with the Nikkei average far surpassing 22,000, as investors rushed to buy in view of the Dow Jones industrial average’s powerful rally on the New York Stock Exchange Friday.
Singapore stocks closed lower on Monday, with the benchmark Straits Times Index (STI) going down 0.18 percent, or 6.12 points, to close at 3,325.86.
A total of 1.19 billion shares changed hands with a turnover of 858.57 million Singapore dollars (about 634.94 million U.S. dollars).
China’s economy appears increasingly set to avoid a “hard landing” and that could help push the country’s stock markets higher for the rest of this year.
And if it is, stocks will likely push higher, he predicted, while pointing out that it will not be at the pace seen so far this year.
China’s economy grew 6.4 percent in the last quarter of 2018 from a year earlier.
At a forum concluded here Sunday, multiple U.S. and Chinese business leaders expressed optimism about the Chinese economy and said opportunities are abundant in the Chinese market.
Urbanization, innovation and the unique features of the Chinese economy all feed into the potential for future growth, according to the speakers.
“I think the scale of that innovation is even bigger than the monolithic breakthroughs.
The Nifty50 is likely to open flat on Monday following muted trend seen in other Asian markets.
Metropolis Healthcare’s Rs 1,204 crore initial public offer (IPO) was subscribed 5.79 times on the third day of the issue on Friday.
The price band has been fixed in the range of Rs 877-880 apiece.
Hong Kong stocks closed down 99.04 points, or 0.33 percent, to 29,810.72 points on Monday.
Turnover totaled 110.00 billion Hong Kong dollars (about 14.03 billion U.S. dollars).
Chinese shares closed lower on Monday, despite strong performance in the morning session.
The benchmark Shanghai Composite Index ended 0.34 percent lower at 3,177.79.
Combined turnover of stocks on the two indices stood at 775.8 billion yuan (about 115.6 billion U.S. dollars), expanding from 657.16 billion yuan the previous trading day.
Sales in home markets increased by 5% quarter-on-quarter (flat year-on-year) to 2.6 mln tonnes “backed by higher slab sales in the Russian market.”
The share of group sales in home markets increased to 56% (+1 p.p.
Group sales in export markets totaled 2 mln tonnes (-2% quarter-on-quarter, +32% year-on-year).
The ChiNext Index, China’s NASDAQ-style board of growth enterprises, lost 1.7 percent to close at 1,666.9 points.
The ChiNext Index, together with the Shenzhen Component Index and the Shenzhen SME (small and medium-sized enterprises) Board Index, are major indices reflecting the performance of stocks listed on the Shenzhen Stock Exchange.
Chinese stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 0.34 percent, at 3,177.79 points.