Asian markets ended Monday on a mixed note, with a slight upward tilt as investors appeared cautious following Japan’s ruling coalition’s loss of its upper house majority, a political shake-up that may complicate policy-making in the near term.
Over in India, sentiment was far more upbeat. The Sensex surged 450 points, lifted by strong buying in banking and cement stocks.
With major tech earnings due this week in the US, many traders across the region are staying alert for cues that could shape the next leg of the rally.
Asian markets: Nikkei closes flat amid election volatility
Japanese stocks held steady on Monday, showing surprising resilience as investors absorbed the fallout from a key upper house election.
The ruling coalition’s weekend defeat has raised fresh questions about Prime Minister Shigeru Ishiba’s political capital and his ability to push through economic reforms.
Even so, the Nikkei 225 slipped only slightly, ending the day down 0.21% at 39,819.11.
The Hang Seng gained 168 points, or 0.7%, to finish at 24,994 on Monday, marking its second consecutive session of gains.
The advance was driven by strength in consumer, technology, and property stocks, as investors welcomed the PBoC’s decision to maintain its key lending rates at record lows, matching market expectations.
Kospi mirrors gains, ends 0.7% up
South Korean shares ended higher on Monday, supported by continued foreign buying despite persistent concerns over US tariff policies.
The Korean won also strengthened against the US dollar.
The Kospi rose 22.74 points, or 0.71%, to close at 3,210.81. Trading volume was relatively light, with 341.3 million shares changing hands, totaling 10.6 trillion won ($7.6 billion).
Foreign investors bought 893.4 billion won worth of domestic equities, while institutional investors picked up 101.3 billion won.
Meanwhile, retail investors offloaded 1.06 trillion won in shares to lock in profits.
The market sentiment remained upbeat in China as the CSI 300 index ended the day 0.67% higher at 4,085.61, while in the broader Pacific region, Australia’s S&P/ASX 200 dipped 1.02% to close at 8,668.20.
Sensex surges 450 points
Indian equity benchmarks closed on a strong note on July 21, with the Nifty settling near the 25,100 mark.
The Sensex ended 442.61 points higher, or 0.54%, at 82,200.34, while the Nifty gained 122.30 points, or 0.49%, to finish at 25,090.70.
Market breadth was mixed, with 1,883 stocks advancing, 2,101 declining, and 168 remaining unchanged.
Top performers on the Nifty included Eternal, ICICI Bank, HDFC Bank, HDFC Life, and M&M.
Meanwhile, IndusInd Bank, Reliance Industries, Wipro, HCL Tech, and Eicher Motors were among the notable laggards.
Sector-wise, gains were seen in auto, capital goods, private banking, power, real estate, and metal stocks, which rose between 0.5% and 1%.
On the other hand, IT, PSU banks, oil & gas, and FMCG sectors saw losses ranging from 0.4% to 1%.
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