Asian shares creep higher, oil surges to 3-year peak
Asian shares nudged higher on Monday as risk sentiment turned for the better, though a surge in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) firmed 0.5%, though that followed three consecutive weeks of losses.
Shanghai shares fall as power crunch weighs
Shanghai shares fell on Monday as analysts worried that a recent power crunch which has curbed factory production is weighing on economic growth. Blue-chips rose, led by consumer staples ahead of the National Day holiday.
The blue-chip CSI300 index rose 0.6%, to 4,877.37, while the Shanghai Composite Index lost 0.8% to 3,582.83 points.
HSBC shares climb in Hong Kong as release of Huawei exec seen easing tensions
HSBC stock rose as much as 3.5% to HK$41.10 in their biggest intraday percentage gain since May 28. HSBC was the second-biggest gainer in the Hang Seng Finance Index (.HSNF). The stock was up 2.1% in the afternoon trade.
Japanese shares give up early gains as investors book profits
Japanese shares settled slightly lower on Monday, giving up early gains driven by cyclical stocks as investors booked profits after a sharp rally this month, while caution also prevailed ahead of a change in political leadership.
The Nikkei share average closed down 0.03% at 30,240.06 after rising as much as 0.5%. The broader Topix slipped 0.14% to 2,087.74.
European shares rise on German election relief, oil surge
Germany’s blue-chip DAX jumped 1%, leading gains among regional indexes, while the pan-European STOXX 600 index added 0.6% in early deals.
Dow futures jump nearly 200 points after market ends wild week in the green
Stock futures climbed in early morning trading on Monday as investors braced for the last week of a volatile September.
Futures on the Dow Jones Industrial Average rose 190 points. S&P 500 futures and Nasdaq 100 futures also both traded in positive territory.
Reference: CNBC, Reuters
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