Epic Research Update : Asian Markets

Asian shares got off to a shaky start on Monday as recent rallies offered traders a profit-taking opportunity, while the dollar edged away from recent peaks in early trading.



Japanese stocks inched down after meandering between gains and losses at the open. Index heavyweights such as Softbank and Fast Retailing rose 2.2 and 0.8 percent each, but advances were offset by steep losses among carmakers. Nissan and Honda Motor lost over 2 percent, respectively, and Toyota Motor receded 1.2 percent.



China’s Shanghai Composite index held on to a 1 percent gain despite exports fell more-than-expected, down 14.6 percent in March from the year-ago period, official data showed on Monday.



In Hong Kong, the Hang Seng index elevated 0.4 percent to its highest level since January 2008, on course to extend gains into a fourth straight session. Lenders were among the top performers; China Construction Bank rallied 2.1 percent, while Bank of China and Bank of East Asia surged nearly 2 percent each.



South Korea’s Kospi index hit its highest level since August 2014 in early trade.



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Posted in: Indian Market Tips