Asian stock markets ended mostly higher Monday, with Shanghai equities lifted by brokerages after China's cabinet approved market-reform measures such as the launch of index futures and short-selling.
Most other regional markets also gained, with a sharp increase in commodity prices spurring resource stocks. Investors also looked past weaker-than-expected U.S. nonfarm payrolls data.
The region's largest market by capitalization, Japan, was closed for a holiday.
Hong Kong’s Hang Seng Index progressed 114.77 points, or 0.5%, to 22,411.52, paced by brokerage and bank shares on hopes the tentative approval to launch index futures and short-selling of securities would increase participation of institutional investors and improve trading volumes.
In Hong Kong, shares of China Everbright surged 10.3% and First Shanghai Investments rocketed 17.6%.
Strong gains for gold and crude-oil prices helped to lift the region's miners and energy producers. Lihir Gold climbed 3% and Newcrest Mining added 1.7% in Sydney, and Zhaojin Mining Industry Co. gained 3% in Hong Kong.
Santos rose 0.8% and Woodside Petroleum ended 1.2% higher in Sydney, and Cnooc gained 1.5% in Hong Kong.
Santos was also in the news after it said it was extending an option to sell a further one million tons a year of liquefied natural gas from its project in Queensland state to Malaysia's Petroliam Nasional.
Brokerages advanced in Seoul, with Samsung Securities gaining 2.4%, while Mirae Asset Securities Co. rose 2.3%.
STX Offshore & Shipbuilding Co. added 1.9% on news it won a $130-million U.S. order for four bulk ships from Turkey's Densa.
In Taipei, steel companies advanced on expectations a positive global demand outlook for the metal would help support prices. China Steel climbed 1.3% and Chung Hung Steel added 2.3%.
CHINA
Gains in Shanghai were supported by robust trade data for December, with exports rising 17.7% year-on-year while imports rocketed 55.9%.
The Shanghai 300 Composite Index added 1.92 points to 3,482.05.
Citic Securities Co. rose 3.6% and Haitong Securities advanced 1.1%, while China Construction Bank added 1.7% in Shanghai. However, mainland property plays were weak after a statement posted on the State Council Web site over the weekend said China will step up efforts to keep hot money out of its property market.
Real estate developer China Vanke lost 1.6% in Shenzhen and Poly Real Estate Group gave up 2.3%, while Shandong Gold-Mining Co. rose 2.2% in Shanghai
Elsewhere;
Korea’s Kospi Index was 1.14 points lower to 1,694.12
Taiwan’s Taiex index surged 42.92 points, or 0.5%, to 8,323.82
Singapore’s Straits Times index put on 10.77 points, or 0.4%, to 2,933.53
New Zealand’s NZX Index slid 6.48 points, or 0.2%, to 3,303.75
Australia’s S&P/ASX 200 added 38.60 points, or 0.8%, to 4,950.70.
