Asian Stock Market: China-led gains push indices higher on improved risk-sentiment

• Asia-pacific stocks make remarkable gains on the fresh trading week.
• Overnight gains in Wall Street shrugs off fears of the coronavirus outbreak globally.
• Eyes on US Vice President visit  kamala Harris in south-east Asia.

Asian shares edge higher on the first day of the week on Monday following the gains on Wall Street.

MSCI’s broadest index of Asia-pacific shares outside Japan rose 1.49%.

Most of the indices are trading in the green on bargain hunting after China reported no new locally transmitted COVID-19 case for the first time since July. Further Beijing said its cross-cyclical macroeconomic policy will help economic volatility to stay within a reasonable range. 

Hong Kong Hang Seng’s index rose nearly 2%, after plunging to an over nine-month low on Friday.

The Shanghai Composite Index gained 1.1% as investors sentiment improves after China’s health ministry reported no new locally transmitted cases of COVID-19 for the first time since July.

Japan’s Nikkei 225 surged 1.8%, after tumbling to an eight-month low on Friday, Kospi rebounded 1.6%.

In Australia, the S&P/ ASX 200 edged 0.29% higher.
 
Gold trades higher at $1,789 per ounce with mild gains.

The US Dollar Index (DXY), which tracks the greenback against a basket of its peers trades at 93.13 after its recent climb from 93.70.