Asian stocks rise on tech gains and trade optimism
Asian shares climbed Monday, led by technology firms, as investors grew more optimistic about ongoing US-China trade talks.
Key Takeaways
AIAsian stocks advanced in Monday trading, buoyed by strong gains in technology shares amid growing investor optimism over ongoing trade negotiations between the United States and China.
South Korea’s Kospi index rose 1.7 percent, supported by a 4 percent jump in Samsung Electronics shares, while SK Hynix edged up 0.1 percent.
In China, the CSI 300 index of blue-chip stocks gained about 0.5 percent, the Shanghai Composite rose 0.6 percent, and Hong Kong’s Hang Seng index also added 0.6 percent.
Japanese markets were closed for a public holiday, resulting in lower trading volumes across the region.
Other market developments
Australia’s S&P/ASX 200 index was little changed, as gains in some sectors offset declines in energy and mining shares. In Singapore, the Straits Times Index climbed 0.3 percent, while futures linked to India’s Nifty 50 rose by a similar margin.