MSCI’s broadest index of Asia-Pacific shares sans Japan rose 0.1% in early trade, while Japan’s Nikkei gained 1.1% ahead of an earnings heavy week.
Philippine shares fell Monday following a warning that the coronavirus pandemic will likely send the economy into its first annual contraction in more than two decades this year, while financials helped Singapore rise after five sessions of losses.
Philippine gross domestic product would likely shrink by 0.2% in 2020 before bouncing back to about 7.7% as policy support measures gain traction, the central bank governor said Saturday.
The benchmark Philippine stock index declined as much as 1.6% to a 3-wk low. Consumer stocks led the fall, with conglomerate SM Investments shedding 3.4% to its lowest since 31 March, while food and beverage company Universal Robina Corp fell 1.5%.
Indonesian shares slipped as much as 0.4%. Both property developer Nusantara Properti International and cosmetic products maker Mustika Ratu fell by 7%.
Singapore’s FTSE Straits Times Index led gains in the region, with a rise of up at 1.5%, its best intraday jump since 17 April.
Thai shares gained as much as 1.1%, lifted by industrial and utility stocks.
Malaysian stocks strengthened up to 0.5%, helped by the healthcare and telecom sectors.
India’s NSE Nifty 50 index advanced 1.7% at 9,310.15 by 0346 GMT, while the benchmark S&P BSE Sensex gained 1.74% at 31,850.43.
Chinese shares climbed Monday on a drop in new coronavirus cases in the country and hopes for more stimulus to counter the outbreak’s economic impact.
By the midday break, the Shanghai Composite index was up 0.7% at 2,828.13 pts, as investors also awaited the rescheduled date for the parliament’s Key annual meeting.
China’s blue-chip CSI300 index was up 1.06%, with its financial sector sub-index 1.51% higher, the consumer staples sector up 1.25%, the Real Estate index up 1.29% and the Healthcare sub-index up 2.23%.
The smaller Shenzhen index was up 0.69% and the start-up board ChiNext Composite index was higher by 1.42%.
Japanese shares rose Monday as some better-than-expected earnings lifted market sentiment even as underlying worries about the outlook tempered overall demand.
The gains came just before the Bank of Japan’s widely anticipated decision to further expand monetary stimulus.
The benchmark Nikkei average advanced 1.2% at 19,678.87 by the midday break, during which the BoJ announced measures to ease corporate funding strains, including increased buying of commercial paper and corporate bonds.
Australian shares fell Monday as dismal results and a dividend cut from National Australia Bank hit its peers, while some investors held their bets ahead of a slew of central bank meetings this week.
A subindex of financial stocks gave up 1.4%. Though trading in NAB shares was halted, peers Westpac and Australia and New Zealand Banking Group shed more than 3% each and were the biggest losers on the benchmark index.
They led the S&P/ASX 200 index down 0.4% to 5,224.5 by 0035 GMT. Last week, it recorded its 1st weekly decliner in 5, mainly due to a historic crash in Crude Oil prices that cast doubt over the speed of economic recovery.
The New Zealand stock market was closed for a holiday.
ASIA- PACIFIC INDICES
Data as of 27 April 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||2:38am EDT||126.84||+2.29||+1.84%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||2:38am EDT||274.52||+5.09||+1.89%|
|.TRXFLDINP||Thomson Reuters Equity India Index||2:38am EDT||1,068.33||+19.06||+1.82%|
|.N225||Nikkei Stock Average 225||2:15am EDT||19,783.22||+521.22||+2.71%|
|.HSI||Hang Seng Index||2:54am EDT||24,270.30||+438.97||+1.84%|
|.AORD||ASX All Ordinaries Index||2:17am EDT||5,388.30||+87.60||+1.65%|
|.KS11||KOSPI Index||2:30am EDT||1,922.77||+33.76||+1.79%|
|.SETI||SET Composite Index||1:29am EDT||1,266.80||+8.02||+0.64%|
|.JKSE||Jakarta Composite||3:08am EDT||4,498.86||+2.79||+0.06%|
|.PSI||PSE Composite Index||12:50am EDT||5,450.45||-14.53||-0.27%|
|.SSEC||Shanghai Composite Index||2:54am EDT||2,815.54||+7.01||+0.25%|
|.BSESN||S&P BSE Sensex||2:54am EDT||32,007.45||+680.23||+2.17%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||2:53am EDT||1,376.43||+6.58||+0.48%|
|.HNX30||HNX 30 Index||23 Apr 2020||203.52||+0.48||+0.24%|
Have a healthy week, Keep the Faith!