Investing.com - " Most Asian bourses traded higher during
Monday's session, the first trading day after U.S. stocks closed at
fresh record highs.
In Asian trading Monday, Japan's Nikkei 225 jumped 1.68% a day
after Bank of Japan Deputy Governor Kikuo Iwata reiterated the
central bank's commitment to large-scale easing until it reaches
its desired inflation target of 2%. The country's monetary and
fiscal policies are at a critical point for ending deflation, Iwata
said in a speech given in Western Japan, Bloomberg reported.
Hong Kong's Hang Seng added 0.47%, but the Shanghai Composite was
off 0.22% ahead of some marquee earnings reports from Chinese
This has been a mediocre earnings season for some of Asia's biggest
companies with a majority missing on both the top and bottom lines.
Chinese companies are required to have completed delivering
third-quarter results by the end of this month.
Banks and other financial services firms were among the leaders in
Australia's S&P/ASX 200 jumped another 1.2% to cruise to
another five-year high. Reserve Bank of Australia Governor Glenn
Stevens is scheduled to speak on Tuesday. Markets in New Zealand
are closed Monday for a public holiday.
In U.S. economic news out Friday, the Commerce Department said
durable goods orders rose 3.7% last month, beating expectations for
a 2.3% gain. The August reading was revise up to 0.2% growth from
0.1%. Excluding transportation, orders fell 0.1% against
expectations of a 0.5% rise.
The Thomson Reuters/University of Michigan's final reading on the
overall index on consumer sentiment fell to 73.2 in October from
77.5 in September. That is the lowest reading since December 2012.
Economists expected an October reading of 75.
The Federal Reserve kicks-off a two-day meeting Tuesday.
South Korea's Kospi added 0.36% after the Bank of Korea said South
Korean Consumer Confidence rose to 106 in September from 102 in
August. Analysts expected a September reading of 103.
Singapore's Straits Times Index rose 0.14% while S&P 500
futures advanced 0.34%.
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