Asian markets mostly in positive territory

02.09.2013 10:58
Asian markets mostly in positive territory

YEREVAN, September 2. /ARKA/. Asian markets are mostly trading higher on Monday, with the recent batch of economic data out of China lifting sentiment to a notable extent, RttNews reported.

However, some of the markets in the region are trading off their early highs, with investors treading a bit cautiously at higher levels amid worries about the conflict in Syria.

In the Australian market, consumer discretionary, financial, energy, healthcare and industrial stocks are mostly trading higher.

The benchmark S&P/ASX 200 index, which advanced to 5,188.6, is currently trading at 5,170.8, up 35.8 points or 0.7 percent from its previous close. The broader All Ordinaries index is up 38.1 points or 0.7 percent at 5,163.4, around 15 points off the day's high of 5,178.7.

Among bank stocks, ANZ Bank, Commonwealth Bank of Australia and National Australia Bank are up 0.6 to 1 percent, while Westpac (WBK) is trading nearly 1.5 percent higher. Bendigo & Adelaide Bank and Bank of Queensland are also trading notably higher.

UGL, Ansell, Downer EDI, Crown and Mineral Resources are up 3 to 5 percent. Caltex Australia, Arrium, News Corp. (NWS) and Iluka Resources are trading higher by 2.5 to 2.8 percent.

The Nikkei average rose 1.4 percent on Monday as real estate and construction stocks gained on hopes that Tokyo will win the race to host the 2020 Summer Olympics, while consumer finance shares climbed after a media report citing rising loan demand, Reuters reported.

The Nikkei gained 184.06 points to 13,572.92, and the Topix index added 1.1 percent to 1,117.78.
Volume was subdued, with only 1.85 billion shares changing hands as U.S. markets are closed for the Labor Day holiday on Monday. Trading is likely to stay thin this week as investors await key events including U.S. jobs data on Friday and the outcome of the Olympics bidding on Saturday. –0-

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