Current Market Update


Tokyo (Nikkei Average NIK, +0.31% ) up 0.2%
Hong Kong (Hang Seng Index HSI, +0.22% ) up 0.3% 
Shanghai (Shanghai Composite Index SHCOMP, +0.29% ) up 0.3% 
Sydney (S&P/ASX 200 XJO, +0.81% ) up 0.8% 
Seoul (Kospi SEU, +0.23% ) up 0.3% 
Taipei (Taiex Y9999, -0.27% ) flat

Asian Market Update

Asian markets mostly rose Monday after China at the weekend cut interest rates for the second time since November, while better-than-forecast US economic data helped push the dollar up against the yen.

Several key events will also be taking investors' attention this week, including a meeting of China's Communist Party, the European Central Bank and the release of US jobs figures.

Hong Kong added 0.70 per cent, Shanghai gained 0.68 per cent, Tokyo climbed 0.26 per cent by the break, Sydney put on 0.71 per cent and Seoul was 0.33 per cent higher.

The People's Bank of China on Saturday cut interest rates by 25 basis points, citing "historically low inflation" among the factors behind its decision.

SGX Singapore Opening Market Update

SINGAPORE shares opened higher on Monday with the Straits Times Index (STI) up 4.59 points or 0.13 per cent to 3,407.45 at 9.01am.

Some 100 million shares exchanged hands.

Gainers beat losers 97 to 74.

The market was buoyed by a weekend rate cut from China and an infrastructure-centred budget from India.