Asian markets opened mostly higher on Monday, with investors optimistic about the global economic recovery and the rollout of COVID-19 vaccines.
In Japan, the Nikkei 225 index rose 0.5% in early trading, while the broader Topix index gained 0.4%. The Bank of Japan’s Tankan survey showed that business sentiment among large manufacturers improved for the first time in two years. This positive data helped boost investor confidence in the Japanese economy.
In China, the Shanghai Composite index edged up 0.2%, while the Shenzhen Composite index added 0.3%. Chinese tech stocks, which have been under pressure in recent weeks due to regulatory concerns, rebounded slightly on Monday. The Hang Seng index in Hong Kong also rose 0.5%.
South Korea’s Kospi index was up 0.6%, as the country reported better-than-expected export data for the month of March. This suggests that the global demand for South Korean goods remains strong despite the ongoing pandemic.
In Australia, the ASX 200 index was flat in early trading, as investors awaited the release of the country’s retail sales data for February. The Australian economy has been recovering steadily from the impact of the COVID-19 pandemic, with strong consumer spending driving growth.
Overall, Asian markets are seeing a positive start to the week, buoyed by improving economic data and the continued rollout of COVID-19 vaccines. Investors are hopeful that the global economy will continue to recover, leading to increased demand for goods and services in the region.
However, concerns about rising inflation and potential interest rate hikes in the US continue to weigh on market sentiment. Investors will be closely watching for any developments on this front, as well as the progress of the vaccination campaigns in Asia and around the world.
In conclusion, Asia markets are mostly rising on Monday, with investors optimistic about the economic recovery and the rollout of COVID-19 vaccines. While there are still challenges ahead, such as inflation and interest rate concerns, the overall outlook for Asian markets remains positive.