Asian stocks rose on Monday, posting broad-based gains across various sectors.
The MSCI broadest index of Asia-Pacific shares outside Japan climbed by 0.7 percent. Australian markets were closed due to a public holiday. Japan’s Nikkei index rose by 0.9 percent.
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Indian stock markets soared Monday morning, with the BSE Sensex index climbing 415 points, or 0.5 percent, reaching 82,604 points. This marked the fourth consecutive session of gains and the highest level since early October 2024, according to CNN.
The rally was broad-based across sectors, led by banking and automotive stocks. Investor sentiment was further boosted by recent moves from the Reserve Bank of India, which included an unexpected cut to the repo rate and a reduction in the cash reserve ratio, along with positive signals from ongoing trade negotiations between India and the United States.
Small- and mid-cap stocks also contributed strongly to the rally, with both segments jumping by more than 6 percent. The Nifty 50 index rose by 0.5 percent, surpassing the 25,100-point mark, driven by strong gains in several prominent stocks.
Chinese shares benefited from optimism surrounding trade talks as well. Hong Kong’s Hang Seng index rose by 0.8 percent, reaching the 24,000-point level for the first time since March 21. Meanwhile, China’s CSI 300 index of leading stocks climbed 0.2 percent.
— (Petra)
