Asian stocks, those open, kicked off higher on Monday, tracking rallies on Wall Street as investors came to terms with the prospect of more central bank interest rate hikes. MSCI's index of Asia-Pacific shares outside Japan was trading 0.49 per cent higher. China and Korean markets observed the holiday.
Domestic equity markets are set to kick off the new week on a muted note, despite firm global cues. US stocks soared sharply over the weekend, whereas Asian peers, those open, were trading in the green. Major Asian hubs including China, Hong Kong and South Korea observed a holiday today. Here's breaking down the pre-market actions:
STATE OF THE MARKETS SGX Nifty signals a flat startNifty futures on the Singapore Exchange traded merely 2.5 points, or 0.01 per cent, higher at 17,844.5, signalling that Dalal Street was headed for a muted start on Monday.
- Tech View: Nifty50 on Friday ended the week above 17,800 for the first time since January. However, the 50-pack index failed to hold on to opening gains and settled the session forming a bearish candle on the daily scale.
- India VIX: The fear gauge dropped more than 3 per cent to 17.71 level on Friday over its close at 18.30 on Thursday.
Asian stocks open higherAsian stocks, those open, kicked off higher on Monday, tracking rallies on Wall Street as investors came to terms with the prospect of more central bank interes...