SPY345.78+1.17 0.34%
DIA283.34-0.31 -0.11%
IXIC11,548.28+42.28 0.37%

Asian Stocks Start The Week On Positive Note

U.S indexes saw significant volatility last week that ended in gains, thanks to talks around stimulus. Dow Jones advanced 1.56%, S&P 500 gained 2.01% and Nasdaq 100 climbed 2.18% during the week. Most indexes across Asia had a positive week too, the sentiments of which have spilled over to Monday.

· 10/12/2020 01:17

U.S indexes saw significant volatility last week that ended in gains, thanks to talks around stimulus. Dow Jones advanced 1.56%, S&P 500 gained 2.01% and Nasdaq 100 climbed 2.18% during the week. Most indexes across Asia had a positive week too, the sentiments of which have spilled over to Monday.

Japan's Nikkei index is trading down 0.30% at press time as a stronger Yen drags down major exporters lower. Machine Tools orders and M3 money supply data are due for release Monday.

China's Shanghai Composite index is trading up sharply, advancing 2.3% at publication time after People's Bank of China lowered the reserve requirement ratio for some foreign exchange forwards, making it cheaper to short the Yuan. The move comes after the Yuan hit a 17-month high. M3 money supply and new loan growth data for China is due for release Monday.

Hong Kong's Hang Seng index is trading 2.23% higher. No major economic events are due Monday.

Australia's S&P/ASX 200 index is trading 0.47% higher, led by banks. National Australia Bank's business confidence index data for October is due for release Monday.

India's Nifty 50 index has gained 0.50% at press time as the benchmark index nears 12,000 for the first time since February. Investors will be watching the Consumer Price index and Industrial Production numbers due for release late Monday.

South Korea's KOSPI index is higher by 0.30%. No major economic numbers are due.

U.S. Dollar index futures (USD measured against a basket of five major currencies) are trading up marginally to 93.097. Japanese Yen has gained 0.10% against the dollar to 105.48.

ETFs To Watch: Vanguard FTSE Emerging Markets ETF (NYSE:VWO) and SPDR Portfolio Emerging Markets ETF (NYSE:SPEM).