Stock indexes in Asia surged on Monday, led by Chinese shares posting particularly strong gains. China's Finance Ministry announced on Sunday that stamp duty will be cut by 50% starting today "to invigorate the capital market and boost investor confidence." Over the weekend, Bank of Japan Governor Kazuo Ueda said domestic demand is healthy while confirming the BoJ will continue its monetary easing framework. Meanwhile, Chinese real estate giant Evergrande resumed trading for the first time since March 2022, plummeting over 80% after it reported losses of $4.5 billion in the first half of 2023.
The Nikkei 225 added 1.53% at 4:17 am CET, the Kospi Composite rose by 0.78%, and the S&P/ASX 200 increased by 0.60%. Hang Seng grew by 1.84% a minute later, the Shanghai Composite jumped by 2.46%, and the Shenzhen Composite surged by 2.43%.
The dollar traded 0.08% higher against the yen, selling for 146.5305 at 4:20 am CET.
