CANBERA (dpa-AFX) - Asian markets finished trading on a strongly positive note on Monday, tracking the Wall Street rally on Friday linked to easing trade tensions between the U.S. and China. Expectations that fiscal dove Sanae Takaichi would secure the premiership in Japan boosted sentiment in Japanese stock market. Markets also cheered the GDP update from China that surpassed market expectations.
China's Shanghai Composite Index added 0.63 percent to finish trading at 3,863.89. The day's trading ranged between 3,877.72 and 3,850.37. The Shenzhen Component Index closed 0.98 percent higher at 12,813.21.
The Japanese benchmark Nikkei 225 rallied 1653 points or 3.5 percent to close at 49,235.00. The day's trading range was between 48,285.50 and 49,237.50.
SoftBank Group Corp topped gains with a surge of 8.5 percent. Yaskawa Electric Corp surged 7.2 percent. Fanuc Corp, Mizuho Financial, Resona Holdings, all gained more than 6 percent. Sumitomo Metal Mining and Sumitomo Dainippon Pharma, both declined more than 1 percent.
Korean Stock Exchange's Kospi Index added 66 points or 1.8 percent to close trading at 3,814.69. The day's trading range was between 3,728.38 and 3,814.69.
The Hang Seng Index of the Hong Kong Stock Exchange jumped 611 points or 2.4 percent from the previous close to finish trading at 25,858.83. The day's trading range was between a high of 25,912.77 and a low of 25,710.61.
Australia's S&P/ASX200 closed trading at 9,031.90, gaining 37 points or 0.41 percent from the previous close. The day's trading range was between 8,963.60 and 9,034.40.
Lynas Rare Earths topped gains with a surge of 6.6 percent. Generation Development Group, Zip Co, Neuren Pharmaceuticals, and Beach Energy all followed with gains of more than 4 percent. Emerald Resources plunged 9.4 percent followed by Greatland Resources and Iluka Resources that both declined around 6.7 percent.
The NZX 50 of the New Zealand Stock Exchange gained 56 points or 0.42 percent to close trading at 13,344.96, versus the previous close of 13,289.21. The day's trading ranged between 13,246.23 and 13,344.96.
NZX rallied 2.66 percent. Mercury NZ and Ryman Healthcare also rallied more than 2 percent. EROAD topped losses with a decline of more than 4 percent. Investore Property and Stride Property, both erased more than 3 percent.
Wall Street had closed on a positive note on Friday amidst President Trump's remarks that eased fears of further trade escalation with China. The Dow Jones Industrial Average added 0.52 percent to finish trading at 46,190.61. The Nasdaq Composite also rallied 0.52 percent to close trading at 22,679.98.
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