Asian shares rise; Taipei, Jakarta Top Gainers
The Asian Equity Market that appeared was opened on Monday on Monday, led by Taiwan to track the Wall Street profits, while Indonesian shares rose with strength in banking shares.
Most of the stock markets in the region are optimistic as easing of trade tensions between the United States and China to help generate appetite for risk among investors.
Stocks in Malaysia, Thailand and India each added 0.7%, 0.1%and 1.3%.
“After the correction period, ASEAN equity shows the momentum and above, after leaving the technical downward trend starting from the height of 2017 (the first technical escape occurred in 2024),” said Mohit Mirpuri, manager of the equity fund at SGMC Capital based in Singapore.
Interesting valuation, weaker US dollars, stable growth prospects in Asia and the determination of relatively mild investor positions creates appropriate conditions for investors to start returning to risk assets, Mirpuri added.
Equity at Taipei TWSE: Taix jumped 0.8%, reflecting a strong advantage of profits in technology and shares related to artificial intelligence in the US in the US
The Indonesian benchmark index rose 0.7% to reach the highest since February, powered by large profits in the Large-Central-Bank Capitalization lender, Bank Mandiri and Bank Rakyat Indonesia.
Bank Central Asia, the largest lender in Indonesia, reported a strong first quarter revenue last week and set a positive tone for its competitors, which is scheduled to release the results this weekend.
In Thailand, the local central bank will meet on Wednesday for its monetary policy decision, where Poon Panichpibool, a market strategy expert in Krung Thai Bank, expects cutting.
Thai baht traded 0.4% lower to stable US dollars.
If the central bank can decide to survive for now, we can see some of the benefits of taking Thai bonds and it can be somewhat negative on Baht, “Panichpibool added.
Currencies throughout Asia that emerged were warmed warmly against a stable US dollar because investors wait for more cues about the future trading paths between the two largest economies in the world.
Apart from the claim of US President Donald Trump regarding the progress of trade negotiations with China and other countries, concrete evidence remains rare.
On Sunday, Minister of Finance Scott Besent refused to support Trump’s statement that the tariff discussion with China had begun.
This week is also full of economic news including US work, gross domestic product and core inflation.
The Singapore Equity Benchmark index is on the path for the third day of consecutive losses after ordering profits for seven consecutive sessions.
Among the other currency markets, the Philippine Peso, South Korea won and the Indonesian rupiah fell 0.3%, 0.4% and 0.2% while Malaysian ringgit was traded flat.
HIGHLIGHTS:
** Japan, the promise of Vietnam to support free trade when PM Ishiba visited Hanoi
** The Philippine Foreign Ministry said supporting efforts to fight ‘the influence of operations’
Source: Reuters
