(MENAFN– ecpulse)
Most Asian stocks ended higher on Monday for a third day after unveiled bold reform plans from its Third Plenum that may have “a long-lasting positive impact on China`s equity market outlook” amid further financial liberalization.
- The MSCI Asia Pacific Index added 1% to 142.94 as of 15:38 in Tokyo
China’s reforms include the broadest expansion of economic freedoms since at least the 1990s, as well as easing the one-child policy, implementing residence registration reforms and allowing market pricing of key resources, lifting sentiment.
- China’s CSI 300 Index closed 3.33% higher at 2428.90
- Hong Kong’s Hang Seng closed 2.73% higher at 23660.06
In Japan, Topex rose yet Nikkei fell as exporters were mixed amid the slight strengthening of the yen. The yen fell below the 100-handle against the US dollar after rising reaching as high as 100.39 earlier today.
- Nikkei 225 closed 0.01% lower at 15164.30
- Topix closed 0.21% higher at 1241.67
Despite the positive outcome from China, a major trading partner, Australia’s shares fell amid correctional moves after strong rises on Thursday and Friday. In South Korea stocks rose on China’s reforms and hopes the US Fed will continue its stimulus program.
- The S&P/ASX 200 closed 0.31% lower at 5384.66
- New Zealand’s NZX 50 closed 0.45% lower at 4892.04
- Kospi closed 0.26% higher at 2010.81
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