Investing.com – Asian stocks were broadly higher on Monday as market sentiment was boosted by upbeat corporate earnings reports from Wall Street, while Japanese exporters advanced on the back of a weaker yen.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.42%, South Korea's Kospi Composite added 0.59%, while Japan’s Nikkei 225 Index climbed 0.69%.
Shares in many of the big name Japanese exporters advanced after the yen weakened against the U.S. dollar, boosting the outlook for export earnings.
Shares in electronics giant Sony climbed 1.02%, rival Toshiba saw shares gain 1.46%, while shares in the world’s largest maker of digital cameras Canon climbed 0.98%.
Elsewhere, shares in Japanese automakers were broadly higher after U.S. automaker General Motors reported better-than-expected earnings on Friday.
Shares in Japan’s largest automaker Toyota climbed 1.34%, rival Nissan saw shares advance 0.74%, while Japan’s second largest automaker Honda saw shares jump 3.82% after Nomura Holdings upgraded the stock to ‘buy’.
Also Monday, shares in the world’s third largest maker of computer memory chips Elpida Memory rallied 5.10% after Goldman Sachs upgraded the stock.
In Hong Kong, shares in the financial sector were broadly lower after state-run newspaper The People’s Daily reported that China may increase the amount of cash lenders must set aside as reserves, fuelling concern the nation would further tighten monetary policy.
Shares in China Construction Bank tumbled 1.42%, Bank of China Hong Kong saw shares drop 1.71%, while shares in China’s largest lender Industrial and Commercial Bank of China slumped 1.02%.
Elsewhere, Australia’s S&P/ASX 200 Index rose 0.64% as resource stocks led gains after metal prices rebounded. Shares in mining giant Rio Tinto climbed 0.87%, gold producer Newcrest Mining saw shares jump 0.89%, while shares in zircon miner Iluka Resources surged 3.53%.
However, shares in Australia’s largest supermarket chain Woolworths tumbled 2.58% after it cut its full-year earnings outlook, as earnings were weighed by “uncertainty related to widespread floods and the New Zealand earthquake”.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.37%, France’s CAC 40 futures indicated an increase of 0.27%, the FTSE 100 futures pointed to a rise of 0.24%, while Germany's DAX futures were up 0.08%.
Later in the day, the euro zone was to publish preliminary data on activity in the manufacturing and services sectors while Germany and France were to publish individual reports. The euro zone was also to publish official data on industrial new orders.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.42%, South Korea's Kospi Composite added 0.59%, while Japan’s Nikkei 225 Index climbed 0.69%.
Shares in many of the big name Japanese exporters advanced after the yen weakened against the U.S. dollar, boosting the outlook for export earnings.
Shares in electronics giant Sony climbed 1.02%, rival Toshiba saw shares gain 1.46%, while shares in the world’s largest maker of digital cameras Canon climbed 0.98%.
Elsewhere, shares in Japanese automakers were broadly higher after U.S. automaker General Motors reported better-than-expected earnings on Friday.
Shares in Japan’s largest automaker Toyota climbed 1.34%, rival Nissan saw shares advance 0.74%, while Japan’s second largest automaker Honda saw shares jump 3.82% after Nomura Holdings upgraded the stock to ‘buy’.
Also Monday, shares in the world’s third largest maker of computer memory chips Elpida Memory rallied 5.10% after Goldman Sachs upgraded the stock.
In Hong Kong, shares in the financial sector were broadly lower after state-run newspaper The People’s Daily reported that China may increase the amount of cash lenders must set aside as reserves, fuelling concern the nation would further tighten monetary policy.
Shares in China Construction Bank tumbled 1.42%, Bank of China Hong Kong saw shares drop 1.71%, while shares in China’s largest lender Industrial and Commercial Bank of China slumped 1.02%.
Elsewhere, Australia’s S&P/ASX 200 Index rose 0.64% as resource stocks led gains after metal prices rebounded. Shares in mining giant Rio Tinto climbed 0.87%, gold producer Newcrest Mining saw shares jump 0.89%, while shares in zircon miner Iluka Resources surged 3.53%.
However, shares in Australia’s largest supermarket chain Woolworths tumbled 2.58% after it cut its full-year earnings outlook, as earnings were weighed by “uncertainty related to widespread floods and the New Zealand earthquake”.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.37%, France’s CAC 40 futures indicated an increase of 0.27%, the FTSE 100 futures pointed to a rise of 0.24%, while Germany's DAX futures were up 0.08%.
Later in the day, the euro zone was to publish preliminary data on activity in the manufacturing and services sectors while Germany and France were to publish individual reports. The euro zone was also to publish official data on industrial new orders.