Markets in mainland China, Hong Kong, South Korea, Taiwan and Australia posted gains in early morning trade as global economies await US presidential election results and possible monetary policy changes by the Federal Reserve, along with China’s parliamentary meeting.
China, on Friday, eased on foreign investment as it cut the capital needed for non-controlling foreign shareholders to invest in China-listed companies to USD 50 million from the earlier cutoff of USD 100 million.
Trade data for October for China is scheduled to be out this Thursday, following an import-friendly September. More details will emerge by Friday when the Chinese parliament meeting’s decisions on fiscal policy are revealed.
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Japan’s markets are closed for the day as the nation observes Culture Day. South Korea’s Kospi index gained 1.4 per cent, Australia’s ASX 200 moved 0.76 per cent, mainland China’s Shanghai edged 0.53 per cent, and Hong Kong’s Hang Seng index inched 0.11 per cent in morning trade. Taiwan’s Weighted Index also showed a 0.5 per cent improvement.
In the meantime, US futures slipped in the Western hemisphere. S&P 500 futures shed by 0.25 per cent, while Nasdaq-100 futures slipped 0.3 per cent overnight.
Back in India, markets opened in the red this week after Friday’s Muhurat trading, with SENSEX down by about 1.5 per cent and NIFTY 50 falling by 1.6 per cent.
