Asia-Pacific benchmark averages rose on Monday, buoyed by Wall Street gains after Federal Reserve Chair Jerome Powell suggested in his annual Jackson Hole speech that the central bank could ease monetary policy as soon as next month.
By 11:25 am AEST (1:25 am GMT), Australia’s S&P/ASX 200 added 0.7%, trading at fresh record highs. Japan’s Nikkei 225 gained 0.5%, while South Korea’s Kospi 200 climbed 0.8%.
United States equities finished higher on Friday, with the Dow Jones Industrial Average surging 1.9% to a fresh record close. The S&P 500 rose 1.5% and the Nasdaq Composite advanced 1.9%.
Commodities also edged higher. Brent crude rose 0.1% to US$67.73 per barrel, and spot gold lifted 1% to US$3,371.23 per ounce.
Chinese equities posted strong gains. The Shanghai Composite rose 1.5% to 3,825.8, marking its highest close since 18 August 2015, while the CSI 300 added 2.1% to 4,378.0.
Hong Kong’s Hang Seng Index increased 0.9% to close at 25,339.1. In contrast, India’s BSE Sensex fell 0.9% to 81,306.9.
European markets also finished in positive territory. The FTSE 100 in London ticked up 0.1% to a fresh record of 9,321.4, the DAX in Germany rose 0.3% to 24,363.1, and France’s CAC 40 added 0.4% to 7,969.7.
