Most of the major Asian markets ended higher on Monday on expectations for policy stimulus from the U.S. and China, with shares of several regional firms exposed to Chinese growth among gainers.
In Japan, the Nikkei 225 Index dipped 2.28 points to 8,869.37
The Hang Seng Index in Hong Kong gained 25.01 points, or 0.1%, to 19,827.17
The performance followed a generally weak set of Chinese data released on Sunday, including industrial production, fixed asset investment in non-rural areas and a measure of wholesale prices.
Several stocks and sectors were supported by hopes of stimulus from the world’s two largest economies. The resources sector in particular was also aided by sharp gains on commodity markets on Friday.
In Sydney, iron-ore producer Fortescue Metals Group Ltd. rallied 7.3%, diversified miner Rio Tinto Ltd. jumped 4.4%, and copper producer PanAust Ltd. surged 9.6%.
In Tokyo, shares of Hitachi Construction Machinery Co. gained 2.1% and Komatsu Ltd. added 3.2%, while Fanuc Corp. advanced 1.3%.
But those gains were offset by losses for some blue-chip exporters in the wake of the yen’s gains after disappointing U.S. nonfarm payrolls data Friday.
Sharp Corp. lost 1.9%, Nikon Corp. dropped 2.9%, and Canon Inc. fell 1.4%.
Data released earlier in the day showed a downward revision to April-June economic growth and a trade deficit for July also weighed on sentiment.
On the upside, Nomura Holdings Inc. climbed 2.9% after its chief executive told the Nikkei business daily that the brokerage plans to trim its European operations and focus more on its Asian business.
CHINA
Data released Monday also showed the country’s trade surplus widened more than forecast in August, due to a surprise fall in imports
Shanghai’s CSI 300 index gathered 9.49 points, or 0.4%, to 2,326.67
Chinese authorities announced a slate of new infrastructure projects last week designed to support the slowing economy
Shares of Jiangxi Copper Co. rose 1.9% and Aluminum Corp. of China Ltd. added 2% in Hong Kong; in Shanghai, the stocks rose 2.6% and 1.9%, respectively.
In other markets
Korea’s Kospi index sifted off 4.88 points, or 0.3%, to 1,924.70
The Singapore Straits Times Index doffed 2.98 points, or 0.1%, to 3,008.72
Taiwan’s Taiex Index added 57.83 points, or 0.8%, to 7,482.74
New Zealand’s NZX index took on 4.72 points, or 0.1%, to 3,726.90
Australia’s ASX Index improved 7.93 points, or 0.2%, to 4,333.77
