(MENAFN– ecpulse)
Asian shares picked up in the first trading day this week, having the regional gauge heading towards the fourth straight daily gain led by industrial shares. The MSCI Asia Pacific Index rose 0.7% to record 137.61 as of 9:30 a.m in Tokyo.
The witnessed rise came despite negative fundamentals released from Japan showing industrial production unexpectedly falling 2.3% in February. However, the 3% increase in sales tax will take effect in Japan tomorrow.
Furthermore, the regional benchmark slid 0.8% this month and 3.3% since the beginning of this year through last week, having Japan and Hong Kong gauges falling the most among developed markets.
Japan`s Topix index rose 1.1% as yen held losses against the U.S. dollar, while South Korea`s Kospi added 0.3%. On the other side, Australia`s S&9/ASX 200 index inclined 0.8% and New Zealand`s NZX 50 index fell 0.2%.
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