· Asia stocks touch 29-month top, China blue chips at five-year high
Asian shares notched a 29-month high on Monday as investors wagered global central banks would keep topping up the policy punchbowl for years to come, while an upbeat reading on China’s service sector augured well for recovery there.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2% to reach its highest since March 2018, bringing gains for the month so far to 5.1%.
Chinese blue chips .CSI300 firmed 0.7% to reach levels not seen since mid-2015, while the yuan hit its highest on the dollar in more than a year.
· Tokyo stocks rebound on hopes Abe's departure won't change policy
Tokyo stocks rebounded Monday as expectations for economic policy continuity in Japan triggered buybacks of a broad range of issues that slumped last week after Prime Minister Shinzo Abe said he will resign.
The 225-issue Nikkei Stock Average ended up 257.11 points, or 1.12 percent, from Friday at 23,139.76. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 13.31 points, or 0.83 percent, higher at 1,618.18.
Every industrial category gained except for information and communication, and insurance issues. Major advancers included wholesale, mining and air transportation issues.
· China stocks end lower as financials, healthcare shares weigh
China stocks erased gains to close lower on Monday, dragged by financials and healthcare firms, after investors booked profits as major indexes approached key resistance levels.
The blue-chip CSI300 index fell 0.6% to 4,816.22, after hitting a more than five-year high in morning session, while the Shanghai Composite Index slipped 0.2%to 3,395.68, trading not far below a two-and-a-half-year high hit in mid-July.
· European shares open stronger on oil gains, China optimism
European shares opened higher on Monday as heavyweight oil and gas players were supported by higher crude prices, while positive service sector data from China also brewed optimism over an economic recovery.
The pan-European STOXX 600 index rose 0.4% in early trade, adding to mild gains from the prior week amid some optimism over COVID-19 treatments. A British market holiday seemed likely to keep trading volumes subdued for the day.
Activity in China’s services sector expanded at a much faster pace in August, official data showed, as demand across the economy continues to recover from a coronavirus-induced slump.
Reference: CNBC, Reuters
Thai
Eng