Tokyo, Japan (BBN)-Stock markets in Asia were mostly trading higher on Monday, following the US, where both the Dow Jones and the S&P 500 closed at all-time highs.
In Tokyo, the benchmark Nikkei 225 was up 0.21% at 18,865.77 points in early trade, reports BBC.
Hong Kong’s Hang Seng was up 0.39% at 24,984.62, but the Shanghai Composite index was down 0.56% at 3,317.69.
Analysts said mainland investors were worrying about a glut of new share offers.
Trading in shares of Japan’s struggling electronics giant Sharp was halted temporarily after a media report said the firm was preparing to seek aid from its lenders.
The company said it had not been the source of the report, however, and that it had made no decisions around restructuring.
Despite the reassurance, its Japan-listed shares were down more than 6% in morning trade.
Sharp has said it is likely to post its third annual net loss in four years as it struggles with its business in China.
ELSEWHERE IN ASIA
Australia’s benchmark S&P/ASX 200 was up 0.36% at 5,980.10 points as investors’ expectations for another rate cut from the Reserve Bank of Australia (RBA) later on Tuesday continued to rise.
Chris Weston from IG Markets in Sydney said the market reckoned there was a 56% chance of a cut.
“Glenn Stevens [RBA governor] has already detailed some degree of urgency, recently stating that ‘if you feel the case has emerged and it is clear enough, it is usually best to get going on it,'” Mr Weston said.
“This seems quite poignant and given what we have seen in some of the key data points of late, not to mention the failure of the Australian dollar to fall after last month’s cut, then it suggests the RBA will bring the cash rate to 2%.”
In Korea, the Kospi share index was up 0.10% at 1,998.77 points.