Following Chinese markets’ closure until Tuesday next week for the Golden Week holidays, Japan’s Nikkei 225 this morning traded slightly up, gaining 1.57%. Singapore’s Straits Times Index (STI), meanwhile, advanced slightly, by 0.1%.
The Nikkei stock index plunged nearly 5 percent on Monday, marking its third-biggest point loss of the year, following Shigeru Ishiba’s victory in the ruling Liberal Democratic Party’s leadership race late last week.
Japanese stocks, however, will be looking to rebound from the slump on Monday, as investors gear up for an Oct. 27 election.
On Monday, Shanghai’s SSE Index ended the month with an 8.06% gain and Hong Kong’s Hang Seng was up +2.43%.
Monday’s surge means Chinese stocks have risen by around 25% since January this year, when Beijing unveiled the first of a series of stimulus measures to support the economy and markets.
Year-to-date (up to 30 September), Shanghai stock index gained 17.77% and Hang Seng Index 25.08%.
China on October 1 held ceremonies at the Tiananmen Square to celebrate the 75th anniversary of the establishment of the People’s Republic of China.
Locally, the benchmark index FBM KLCI dropped 2.91 points, or about 0.17%.
FBM KLCI, short for the Financial Times Stock Exchange Bursa Malaysia Kuala Lumpur Composite Index, consists of 30 largest companies listed on the Main Board by full market capitalisation.
Sources: Reuters/Xinhua
