Investing.com – Asian stocks were broadly higher on Monday, after China refrained from raising its benchmark interest rate, while shares in Japanese exporters advanced amid signs the U.S. economic recovery was strengthening.
During late Asian trade, Hong Kong's Hang Seng Index jumped 0.68%, South Korea's Kospi Composite gained 0.53%, while Japan’s Nikkei 225 Index climbed 0.80%.
On Friday, official data showed that the U.S. trade deficit narrowed more-than-expected in October, as exports rose to a two-year high, while consumer sentiment rose to the highest level in six months in December.
Shares in Japan’s second-largest automaker Honda, which gets approximately 80% of its revenue abroad, rallied 1.11%, rivals Toyota saw shares add 0.62%, while electronics maker Toshiba saw shares jump 1.85%.
Elsewhere, shares in Japanese machinery makers performed strongly after Credit Suisse lifted its view on Japanese factory automation-related companies to bullish. Shares in industrial machinery manufacturer THK soared 5.58%, while shares in hydraulic equipment maker Nabtesco rallied 5.89%.
Meanwhile, shares in Japan’s largest steel maker Nippon Steel jumped 2.73%, while rivals JFE Holdings saw shares surge 3.33% after the stocks were upgraded by JP Morgan-Chase.
In Hong Kong, shares in the commodity sector were broadly higher as China refrained from raising its benchmark interest rate after government data showed Saturday that China's consumer price index rose 5.1% in November, the fastest rise since July 2008.
Shares in China’s largest oil and gas company PetroChina jumped 1.32%, rivals Sinopec saw shares surge 3.06%, while shares in China’s largest copper producer Jiangxi Copper climbed 3.91%.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.03%, France’s CAC 40 futures indicated a decrease of 0.19%, the FTSE 100 futures pointed to a drop of 0.04%, while Germany's DAX futures were down 0.02%.
Later in the day, European Central Bank president, Jean-Claude Trichet was to speak in Frankfurt.
During late Asian trade, Hong Kong's Hang Seng Index jumped 0.68%, South Korea's Kospi Composite gained 0.53%, while Japan’s Nikkei 225 Index climbed 0.80%.
On Friday, official data showed that the U.S. trade deficit narrowed more-than-expected in October, as exports rose to a two-year high, while consumer sentiment rose to the highest level in six months in December.
Shares in Japan’s second-largest automaker Honda, which gets approximately 80% of its revenue abroad, rallied 1.11%, rivals Toyota saw shares add 0.62%, while electronics maker Toshiba saw shares jump 1.85%.
Elsewhere, shares in Japanese machinery makers performed strongly after Credit Suisse lifted its view on Japanese factory automation-related companies to bullish. Shares in industrial machinery manufacturer THK soared 5.58%, while shares in hydraulic equipment maker Nabtesco rallied 5.89%.
Meanwhile, shares in Japan’s largest steel maker Nippon Steel jumped 2.73%, while rivals JFE Holdings saw shares surge 3.33% after the stocks were upgraded by JP Morgan-Chase.
In Hong Kong, shares in the commodity sector were broadly higher as China refrained from raising its benchmark interest rate after government data showed Saturday that China's consumer price index rose 5.1% in November, the fastest rise since July 2008.
Shares in China’s largest oil and gas company PetroChina jumped 1.32%, rivals Sinopec saw shares surge 3.06%, while shares in China’s largest copper producer Jiangxi Copper climbed 3.91%.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.03%, France’s CAC 40 futures indicated a decrease of 0.19%, the FTSE 100 futures pointed to a drop of 0.04%, while Germany's DAX futures were down 0.02%.
Later in the day, European Central Bank president, Jean-Claude Trichet was to speak in Frankfurt.