Asian stock markets recorded gains on Monday (28th), though modest in some cases. Investors reacted positively to the news that the US has finally confirmed an economic aid package, given the effects of Kovid-19. In China, the Shanghai Stock Exchange rose 0.02% to close at 3,397.29 points. The low-coverage Shenzhen Stock Exchange fell 0.05% to 2,378.54 points.
Chinese markets have shown a slight uptrend in recent times. Consumption and food and beverage stocks rose the most on Monday, but stocks in the financial and telecom sectors declined.
On the Tokyo Stock Exchange, the Nikkei index climbed 0.74%, 26,854.03 points to a day’s high. The signing of the stimulus package in Japan in the US on Sunday night by President Donald Trump exposed papers from electronics companies, but investors remained vigilant about the effects of Kovid-19 on local activity.
In Seoul, the Kospi index gained 0.06% to close at 2,808.60 points. Advance institutional purchases were attributed to South Korean Plaza, with Samsung Electronics 1.2% and Hyundai Motor, 1.3%. In Taiwan, the telex index rose 1.06% to 14,483.07 points.
The Hong Kong Stock Exchange lost 0.27% to close at 26,314.63 points on Monday, against the majority of Asian markets. The Hang Seng index was pressurized by Alibaba’s plunge of 7.98% after China launched a no-confidence check against the company last week.
Technology-related papers in China in general remained under pressure in Hong Kong, with Xiaomi down 4.0% and AAC Technologies down 3.0%. In Oceania, the Sydney Stock Exchange did not operate with a local bank holiday.
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