Broadly Positive Sentiment In Asian Bourses

(RTTNews) - Stock markets in Asia traded on a mostly positive note on Monday amidst signs of diplomatic progress between the U.S. and Iran. Strength in the AI and chip companies boosted stock prices. Hawkish signals from the Federal Reserve as well as the conflict in Lebanon however limited gains.

China's Shanghai Composite Index added 73 points or 1.78 percent from the previous close of 4,090.48 to finish trading at 4,163.10. The day's trading ranged between 4,070.17 and 4,164.42. The index has gained close to 24 percent over the course of the past year.

The Shenzhen Component Index jumped 342 points or 2.13 percent from the previous close of 16,030.7 to close trading at 16,372.50. The index has surged more than 63 percent over the course of the past year.

The Japanese benchmark Nikkei 225 added 1,104 points or 1.55 percent to close trading at 72,353.96 amidst reports that the government was considering mobilizing public and private investment in physical AI technologies. The day's trading ranged between 72,831.73 and 71,009.52 even as the Japanese yen slipped to a 40-year low against the U.S. dollar.

Fujikura jumped 19.4 percent followed by J. Front Retailing that surged 15.9 percent. Taiyo Yuden plunged 9.1 percent followed by Tokyo Electric Power Company that shed 7.1 percent.

The Hang Seng Index of the Hong Kong Stock Exchange slipped 156 points or 0.65 percent from the previous close to finish trading at 23,768.52. The day's trading range was between a high of 23,863.71 and a low of 23,444.86. The index has added a little over 1 percent over the course of the past year.

Korean Stock Exchange's Kospi Index jumped 62 points or 0.69 percent from the previous close of 9,052.42 to close trading at 9114.55. The day's trading range was between 8,900.68 and 9,253. Boosted by a tech rally, the index has recorded a good show, with gains of more than 201 percent over the course of the past year.

Australia's S&P/ASX200 closed trading at 8,816.10, losing 13 points or 0.14 percent from the previous close of 8,828.70. The day's trading ranged between 8,793.80 and 8,851.80.

Fletcher Building led gains with a surge of 4.9 percent. Perenti Global followed with gains of 4.8 percent. Wisetech Global plunged 18.4 percent amidst reports of police investigation against its founder.

The NZX 50 of the New Zealand Stock Exchange slipped 50 points or 0.37 percent to close trading at 13,446.05. The day's trading ranged between 13,446.05 and 13,584.96. The benchmark index has gained almost 7 percent over the course of the past year. Fletcher Building led gains with a surge of 5 percent. KMD Brands led losses with a decline of 5 percent.

Wall Street had closed on an emphatically positive note on Thursday, buoyed by optimism over the U.S.-Iran deal as well as strength in the tech sector that more than offset concerns over a hawkish Federal Reserve. The tech-heavy Nasdaq Composite surged 1.9 percent to close trading at 26,517.93. The S&P 500 rallied 1.1 percent to finish trading at 7,500.58. The Dow Jones Industrial Average also added 0.14 percent to finish trading at 51,564.70. Wall Street was closed for a holiday on Friday.