ASIA MARKETS: Asia Stocks Start Off Monday By Adding To Solid Gains Of Previous Week
08 April 2019 - 1:16PM
Dow Jones News
By MarketWatch, MarketWatch
Stock markets in Asia were forging higher Monday morning,
building on solid gains the previous week as hopes for a U.S.-China
trade continue to rise.
Chinese stocks were among the top performers in the region with
the Shanghai Composite ahead nearly 1%, with large caps again
leading the way. They're up more than 1% after the broader market
jumped some 5% to start April. Shenzhen benchmarks are trailing,
with the Composite Index up 0.8% and the startup-heavy ChiNext just
0.1% higher.
Alcohol maker Moutai (600519.SH) hit record highs after its 1Q
update while peer (600779.SH) umps 6.5% as Diageo (DGE.LN) builds
its stake. Meanwhile, petrochemical stocks are sharply higher,
boosted by a sector-wide crackdown amid a recent accident.
Hong Kong stocks were rising at a more moderate pace. The Hang
Seng Index was up 0.3% while the China Enterprises Index is 0.9%
higher. Insurers have started well, with Ping An (2318.HK) up more
than 1.5% and at fresh record highs while AIA (1299.HK) has climbed
some 1.25%. Developers Country Garden and China Overseas Land are
up some 1.5%, as is internet heavyweight Tencent (0700.HK) . And
oil major CNOOC (0883.HK) has climbed 2% as crude prices continue
to hit 5-month highs
Two notable exceptions to the winners were New Zealand and
Singapore. The former is set for a 4-day losing streak after a run
of record highs, while enchmark is also down about 0.25% after
7-straight gains.
Japan's Nikkei , meanwhile, is little changed amid morning
strength in the yen. Elsewhere, there are gains of about 0.5% in
Australia and Taiwan, which had a 4-day weekend, is outperforming
with the Taiex maintaining a 0.8% advance. S&P 500 futures have
eased to session lows after Friday's gains and are down 0.1%.
This story was compiled from Dow Jones Newswires reports.
(END) Dow Jones Newswires
April 07, 2019 23:01 ET (03:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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