The Asian shares were traded higher on Monday ,along with the Japanese shares due to the strong profit in exporters stocks ,while investors waits for data about the bank’s bond-purchasing from the Federal Reserve (Fed) policy meeting on Tuesday .
The broader Topix edged at 2.7%to 1,084.72, while the benchmark Nikkei 225 rose 2.73% to 13,033.12 by the end of the session. Australia’s S&P/ASX 200 increased with 0.7, closing at 4,811.00 , while New Zealand’s NZX 50 index edged higher by 0.6 %.
South Korea’s Kospi closed at 0.32% to 1,883.10, while the Chinese Shanghai composite rose 0.17% to 2,165.70 and in Hong Kong, Hang Seng increased with 1.30% to 21,242.30, all as of 6.04 am GMT. The Singapore Straits Times index advanced 0.7% and the Taiex index added 0.7 %.
The market waits for this week’s Fed policy meeting which should clarify investors regarding the bond-purchasing program, which has caused a bit of an outbreak in the markets.
The Chairman of Fed Ben S. Bernanke is expected to address the subject after the two-day Federal Open Market Committee (FOMC) has been held.
Approximately $3 trillion has been wiped from the global market since the Fed boss Ben.S Bernanke said, policy makers could cut back stimulus if the job market improves.
The Chinese economic growth is predicted to increase in the second half of the year, with a year gross domestic product estimated at 8.1%, according to reports released by Renmin University. While the Bank of Japan (BoJ) purchased a total of 111.4 billion yen in the Japanese government bond this Monday.
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