China stocks shed early gains to end a tick lower Monday, amid renewed concerns over the coronavirus outbreak as Wuhan reported its 1st cluster of infections since the lockdown was lifted a month ago.
At the close, the Shanghai Composite index was down 0.02% at 2,894.80.
The blue-chip CSI300 index was down 0.09%, with its financial sector sub-index climbing 0.06%, the consumer staples sector dropped 0.79%, the Real Estate index down 0.01% and the healthcare sub-index down 1.59%.
The smaller Shenzhen index ended down 0.24% and the start-up board ChiNext Composite index was weaker by 1.055%.
Broad-based gainers drove Australian shares higher Monday, as plans to gradually reopen the country’s most populous state after a weeks-long coronavirus lockdown boosted hopes of a pick up in economic activity.
The S&P/ASX 200 index rose 1.3% at 5,461.2 pts. The index marked its 3rd straight weekly gainer Friday as Australia eases social distancing restrictions, which have taken a devastating toll on the economy and put it on course for its 1st recession in 30 yrs.
New Zealand’s benchmark S&P/NZX 50 index ended 0.6% higher at 10,760.29 points, helped by gainers in the financial and industrial sectors.
Japanese stocks closed at a two-month high on Monday as more countries prepare to reopen businesses from coronavirus-induced lockdown and on positive cues from Wall Street.
The benchmark Nikkei average gained 1.1% at 20,390.66 pts, its highest closing since 6 March, with cyclical sectors leading the rally.
The broader Topix advanced 1.5% at 1,480.62, also its highest close in 2 months, with all but five of the 33 sector sub-indexes on the Tokyo exchange finishing higher.
Hong Kong shares tracked Wall Street higher Monday, on course for their best session since 7 April, as more countries looked to restart their economies.
Chinese H-shares listed in Hong Kong rose 1.75% at 10,041.16 by the midday break, while the Hang Seng Index was up 1.97% at 24,706.50.
Southeast Asian stock markets rose Monday, with Thai stocks leading the gains, as sentiment improved after China’s central bank signalled more policy measures to support a coronavirus-hit economy.
Shares in trade-reliant Thailand surged 1.7% as the People’s Bank of China (PBOC) said Sunday it would step up counter-cyclical adjustments to support the Chinese economy and make monetary policy more flexible to fend off financial risks.
The Chinese central bank also said it lowered interest rates on short-term loans in April.
More policy support from China, Southeast Asia’s region’s biggest trading partner, has supercharged what would have been a positive start to Asian trading anyway, said Jeffrey Halley, a senior market analyst at OANDA.
Appetite for riskier assets was also supported by a firmer finish on Wall Street Friday and as some countries started to ease coronavirus lockdowns.
Financial stocks dominated the gains on the Thai bourse, with brokerage UOB Kay Hian Securities Thailand jumping 10.4% after posting a quarterly profit, compared with a year-ago loss, while beverage maker Cabao Group added 5.5%.
Indonesian stocks advanced 0.9% on course for their best session since April 30.
The region’s biggest economy is considering plans for a phased resumption of businesses from as early as 1 June, government documents showed.
Vietnam’s index advanced 0.8%, buoyed by financials and real estate stocks. The benchmark was on course for its fifth straight session of gains.
Financial markets in Malaysia were closed for a holiday.
Data as of 11 May 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||2:59am EDT||130.05||+2.03||+1.59%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||3:14am EDT||280.66||+3.31||+1.19%|
|.TRXFLDINP||Thomson Reuters Equity India Index||3:15am EDT||1,062.65||+8.26||+0.78%|
|.N225||Nikkei Stock Average 225||2:15am EDT||20,390.66||+211.57||+1.05%|
|.HSI||Hang Seng Index||3:30am EDT||24,582.60||+352.43||+1.45%|
|.AORD||ASX All Ordinaries Index||3:02am EDT||5,559.10||+71.10||+1.30%|
|.KS11||KOSPI Index||2:30am EDT||1,935.40||-10.42||-0.54%|
|.SETI||SET Composite Index||3:30am EDT||1,287.77||+21.75||+1.72%|
|.JKSE||Jakarta Composite||3:45am EDT||4,641.65||+44.22||+0.96%|
|.PSI||PSE Composite Index||12:50am EDT||5,667.93||+45.99||+0.82%|
|.SSEC||Shanghai Composite Index||3:00am EDT||2,894.80||-0.54||-0.02%|
|.BSESN||S&P BSE Sensex||3:30am EDT||31,939.97||+297.27||+0.94%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||8 May 2020||1,382.31||+5.38||+0.39%|
|.HNX30||HNX 30 Index||7 May 2020||209.68||+2.12||+1.02%|
Have a healthy week, Keep the Faith!