The Chinese stock market has been on a rising trend, growing by nearly 85 points or 2.8 percent in the past three sessions. The Shanghai Composite Index currently trends just over the 3,075-point mark. However, it is possible that investors may choose to capitalise on these gains soon.
The global projection for Asian markets is somewhat uncertain, mainly due to unclear interest rate forecasts. The European markets demonstrated an upward trend, while US markets showed mixed results, a trend that could likely be mirrored by Asian markets. Monday's trading closed with the Shanghai Composite Index (SCI) significantly up, thanks to gains in financial stocks and varied performance in property and resource stocks.
On the day, the index rose 36.21 points or 1.19 percent, closing at 3,077.38, with the Shenzhen Composite Index increasing 41.64 points or 2.38 percent, ending at 1,789.25.
Noteworthy movements among active stocks included a rise of 0.19 percent for Industrial and Commercial Bank of China, an improvement of 1.36 percent for Bank of China and a notable 3.26 percent soar for China Life Insurance.
However, not all stocks experienced growth, with Aluminum Corp of China (Chalco) falling 2.43 percent and Huaneng Power declining 1.92 percent.
On Wall Street, major benchmarks started a little higher on Monday, but primarily trended lower throughout the day, except for the NASDAQ which managed a slight upwards recover by day's end.
Subdued buying interest was observed following Friday's overlook of US consumer price inflation data, which largely met predictions. Meanwhile, a report indicating modest US manufacturing growth in March from the Institute for Supply Management led to a rise in Treasury yields.
Oil prices also experienced an upward shift on Monday, with concerns over potential supply drops following reports of an Israeli strike near the Iranian embassy in Damascus. Consequently, West Texas Intermediate Crude oil futures for May closed at $83.71 a barrel, which is $0.54 or 0.65 percent higher.
