A currency dealer wearing a mask to avoid the spread of coronavirus disease (Covid-19) will work in front of an electronic board showing the Korean combined stock index (Kospi) at a bank in Seoul, South Korea, September 10, 2020.
Kim Hong Ji | Reuters
South Korea Kospi The index rose to a record high of 3,420.23 in early trade on Monday, marking 10 consecutive sessions of profits after Finance Minister Ku Yun Che-Olu said the government would abolish previous plans to raise taxes on equity investments.
Small-cap Cosdaq has increased by 0.15%
Elsewhere, the Asia-Pacific market was mixed as investors looked at talks between the US and China in Spain and evaluated the slate of data from Beijing.
US and Chinese officials began talks on Madrid Sunday to discuss key national security, economic and trade issues, including the upcoming deadline for selling Chinese short video app Tiktok and US tariffs.
He met with a delegation led by US Treasury Secretary Scott Bescent and US Trade Representative Jamieson Greer, their counterparts, China’s deputy prime minister and China’s top trade negotiator Lee Chengan.
Hong Kong Hangsen index Opening increased by 0.16%, Hang Centek The index rose 0.27%.
China’s CSI 300 index rose 0.59% in early trade. The mainland economy slowed in August as retail sales and industrial output missed expectations. The contraction in real estate investment has deteriorated, with a slump of 12.9% in the first eight months, government data shows.
Australia’s ASX/S&P 200 fell 0.34%.
Markets in Japan and Malaysia were closed on holidays.
U.S. stock futures have changed little in early Asian time as investors from the Federal Reserve Conference this week will be taking part in the Federal Reserve Conference this week.
On the state side on Friday, Nasdaq Composite was closed on a fresh record, earning it for the second consecutive week. The S&P 500 has scored 1.6% weeks so far, recording its best weekly performance since early August. The Dow recorded his first positive week in three weeks after seeing 1% climbing.
The strong profit came after the latest economic data showing that weakened labor markets and tame inflation have spurred hopes of cutting Fed rates.
– CNBC’s salamine contributed to this report.
