Asian stocks were in positive territory on Monday, however traders remained cautious ahead of the possibility of an interest rate hike by the Federal Reserve this week.
Japan’s Nikkei 225 finished 0.15 percent higher at 19,633.75 as the yen continued to weaken against the dollar. South Korea’s Kospi advanced 0.97 percent at 2,117.59, as investors brushed off the political risks surrounding the aftermath of President Park Geun-hye’s impeachment last Friday. China’s Shanghai composite climbed 0.76 percent at 3,237.02 and the Shenzhen composite gained 0.8 percent at 2,029.89.
Hong Kong’s Hang Seng was trading 1.25 percent higher in mid-afternoon trade. HSBC’s Hong-Kong listed shares added 2.46 percent following reports that AIA Group Chief Executive Mark Tucker was appointed as the HSBC chairman. Australia’s ASX 200 bucked the trend by slipping 0.32 percent at 5,757.35 as heavy declines in its energy sub index added pressure. However, its gold sub index rose 5.35 percent as Newcrest Mining climbed 4.63 percent, Alacer Gold gained 4.82 percent while Evolution Mining advanced 6.81 percent.
The material has been provided by InstaForex Company – www.instaforex.com