Japan’s Nikkei 225 increased by 0.5% to 40,150.00, Hong Kong’s Hang Seng declined by 0.2% to 16,558.00, the Shanghai Composite index went up by 0.2% to 3,033.63, and South Korea’s Kospi surged by 1.2% to 2,672.94
Most Asian stocks rose on Monday ahead of China’s major annual political event. Japan’s main stock index exceeded 40,000 for the first time.
Meanwhile, U.S. futures went down, and oil prices remained stable.
Japan’s Nikkei 225 increased by 0.5% to 40,150.00 after a strong rally on Wall Street last week. This surge pushed U.S. stocks to new highs. The rise in Japanese shares is attributed to expectations of a rise in demand for AI-related technology and ongoing easy credit policies from the Bank of Japan.
Hong Kong’s Hang Seng declined by 0.2% to 16,558.00, while the Shanghai Composite index went up by 0.2% to 3,033.63.
Investors are closely monitoring China’s National People’s Congress meeting starting Tuesday. There might be announcements aimed at supporting the economy, which is struggling due to increased government regulations and a real estate market downturn.
South Korea’s Kospi surged by 1.2% to 2,672.94 after a survey revealed slower manufacturing growth in February amid weakening overseas demand.
Australia’s S&P/ASX 200 dropped by 0.1% to 7,598.00, and Bangkok’s SET slightly decreased by 0.1%.
On Wall Street, the S&P 500 climbed by 0.8% to 5,137.08, setting a new record. The Dow Jones Industrial Average rose by 0.2% to 39,087.38, with technology stocks leading the market. The Nasdaq composite surged by 1.1% to 16,274.94, surpassing its previous record from 2021.
The 10-year Treasury yield in the bond market dropped to 4.20% from 4.25% on Thursday.
U.S. benchmark crude oil decreased by 2 cents to $79.95 per barrel on the New York Mercantile Exchange, while Brent crude, the global standard, rose by 11 cents to $83.66 per barrel in other trading.
