Asian markets experienced a boost in sentiment on Monday, driven by the belief that concerns about U.S. economic growth had been exaggerated. However, gains were capped by the anticipation of Wednesday's CPI data release from the U.S. Notably, Japanese markets were closed due to a holiday.
In China, the Shanghai Composite Index slightly decreased by 0.14% to 2,858.20, fluctuating between 2,869.27 and 2,851.30 throughout the day. Similarly, the Shenzhen Component Index dropped 0.24%, ending at 8,373.47.
Hong Kong's Hang Seng Index managed a modest increase of 21 points, or 0.13%, closing at 17,111.65. The index traded within a high of 17,162.76 and a low of 17,002.93.
South Korea’s Kospi Index saw a significant rise of 1.2%, closing at 2,618.30, with a trading range of 2,602.01 to 2,622.86.
Australia's S&P/ASX200 climbed by 36 points or 0.46%, closing at 7,813.70. The index oscillated between 7,777.7 and 7,836.80. Key performers included JB Hi-Fi, which surged by 8.3% following its half-yearly results. Tabcorp Holdings and Bellevue Gold rose by approximately 8% and 5.4%, respectively. Specialty retailers Super Retail Group and Polynovo each recorded gains exceeding 4%.
Conversely, Beach Energy plummeted over 12% after announcing its fiscal 24 results. Aurizon Holdings fell by 8.8%, while Strike Energy, Mineral Resources, and Pilbara Minerals declined by 5.6%, 3.8%, and 2.9%, respectively.
New Zealand's NZX 50 Index increased by 38 points or 0.31%, concluding at 12,281.25. The day's range extended from 12,214.24 to 12,326.55. Vista Group International led the gains with a 5.2% surge, followed by Skellerup Holdings at 3.2%. Restaurant Brands NZ, KMD Brands, and Manawa Energy each added over 2%.
On the losing side, Synlait Milk fell by 3.3%, and Mercury NZ lost 2.1%. Sky Network Television, Goodman Property Trust, and Pacific Edge, a healthcare company, all dropped by more than 1%.
In the U.S., Wall Street concluded a tumultuous week with slight positive momentum on Friday. The Nasdaq Composite rose by 0.51% to close at 16,745.30, while the Dow Jones Industrial Average saw a modest increase of 0.13%, finishing at 39,497.54.
