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Asian Stocks witness Gains as Japanese investors eye political developments

Syed Umarullah HussainiWeb Editor

31st Aug, 2020. 09:30 am
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Asia Pacific Markets witnessed higher trend in Monday morning trade, with Japan stocks leading gains as investors monitor political developments in the country.

According to the details Chinese stocks beefed up, with the Shanghai composite up 0.65% while the Shenzhen component gained 0.415%.

However, Hong Kong’s Hang Seng index jumped 1.5%.

In Japan, the Nikkei 225 gained 1.9% while the Topix index advanced 1.81%, after losses on Friday as longstanding Prime Minister Shinzo Abe announced a surprise resignation on Friday due to health issues.

Developments in Japanese politics continued to be watched by investors on Monday, as the search for the country’s new prime minister continues.

The Japanese yen traded at 105.53 per dollar, after strengthening sharply from levels above 106.5 against the greenback late last week.

Meanwhile, South Korea’s Kospi rose 0.39%.

The S&P/ASX 200 in Australia added 0.28%.

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