SEOUL, October 20 (AJP) - Asian markets opened higher across the board Monday, led by Japan, as political uncertainties eased following Sanae Takaichi’s likely premiership and sentiment in China improved after the central bank left its loan prime rates unchanged for October.
Japan’s Nikkei 225 surged 2.6 percent in early trading to hit fresh record highs after reports of a political breakthrough in Tokyo — a coalition deal between the ruling Liberal Democratic Party and the Japan Innovation Party — paving the way for Takaichi’s appointment as prime minister.
The KOSPI opened 0.71 percent higher at 3,775.4 but soon hovered near flat as investors took a breather from last week’s record-setting rally driven by optimism over a possible tariff deal with the United States. Market participants also stayed cautious ahead of Thursday’s Bank of Korea monetary policy meeting and Friday’s release of the U.S. consumer price index.
Among major movers, SK hynix extended its record-breaking climb, rising 2.3 percent to 477,500 won (US$ 335.69), while Samsung Electronics slipped 0.6 percent to around 97,000 won. LG Electronics jumped 5.6 percent to about 89,000 won after its third-quarter earnings beat market expectations.
In China, the Shanghai Composite Index edged up 0.6 percent to around 3,862, while Hong Kong’s Hang Seng Index advanced 2 percent to 25,753, recovering losses from last week. Taiwan’s TAIEX rose 1.7 percent to 27,761, and Singapore’s Straits Times Index traded higher in off-market hours.
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