Asian Stocks Higher Amidst Positive Global Sentiment

Asian stocks finished mostly higher, led by gains in technology and mining, amidst a positive global market sentiment ahead of the crucial inflation data from the U.S. on Monday. Consumer Price Inflation in the U.S. is seen falling to 8.1 percent in August, versus 8.5 percent in July, rekindling hopes of a less hawkish monetary policy stance by the Fed. Stock markets in China, Hong Kong and South Korea are closed for a holiday.

The Japanese benchmark Nikkei 225 added 327 points or 1.16 percent to end trading at 28,542.11. The day’s trading range was between 28,438.37 and 28,612.89.

Isetan Mitsukoshi Holdings rallied 4.7 percent to top the gainers chart. Keisei Electric Railway Co, West Japan Railway Co, Shiseido Co and Keio Corp, all rallied more than 3 percent.

Chiyoda Corp declined 2.4 percent in the day’s trading. JGC Corp, Mitsubishi Heavy Industries, Mitsui Engineering and Shipbuilding as well as Toyobo Co declined more than 1 percent.

Australia’s S&P/ASX200 closed trading at 6,964.50 after adding 70 points or 1.02 percent. The day’s trading was between 6,894.20 and 6,974.90.

Nickel Mines was the top gainer with a 6.7 percent rally. Biotechnology business Mesoblast, Gold Road Resources, and News Corp B DRC, all added more than 5 percent. Domino’s Pizza Enterprises also gained more than 4 percent.

Software company Nuix topped the losers’ charts with a 6.4 percent decline. Sims Metal Management, financial services company Hub24, Perseus Mining and transportation infrastructure developer Atlas Arteria, all declined more than 2 percent.

The NZX50 of the New Zealand Stock Exchange added 55 points or 0.47 percent to close at 11,813.21. Trading ranged between 11,757.77 and 11,815.69.

Fonterra Shareholders Fund is the top gainer with a 5.8 percent overnight rally. Dairy business A2 Milk Company and software company Vista Group International have both gained more than 2 percent. Precinct Properties New Zealand as well as medical instruments business Fisher & Paykel Healthcare Corporation have gained more than 1 percent.

Tourism Holdings, Telecommunications network company Chorus, electric utility Vector and Sky Network Television have all declined more than 2 percent in the day’s trading.

Wall Street had also closed with gains on Friday. Nasdaq-100 had added 2.17 percent to close at 12,588.29 and the Dow Jones Industrial Average had strengthened 1.19 percent to end at 32,151.71.

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