Nikkei, Shanghai Comp hit new highs on US lead

Nikkei jumps 0.9%

Japan’s Nikkei 225 index touched a fresh 15-year high as a strong finish on Wall Street offset the impact of a rangebound yen.

Sharp surged 3.4 percent, boosted by news that Taiwan’s Hon Hai Precision Industry is considering joining efforts to help rescue it. Among other exporter plays, Suzuki Motor and Nintendo leaped 4.1 and 3.2 percent each, while blue-chip Toyota Motor rose 1.6 percent.

Read MoreData this week to show ‘patchy’ growth in Japan

Mainland indices up

China’s Shanghai Composite charged up 1.6 percent to its highest level since May 2008, seemingly set to chalk up a 9-day winning streak.

Real estate developers were among the biggest contributors to Monday’s rally, with China Merchants Property advancing 5.3 percent. Gemdale, Poly Real Estate and China Vanke climbed nearly 3 percent each.

Infrastructure plays also rallied, with China Railway Group up by the daily maximum limit on news that Beijing will soon release details of the “Belt and Road” initiative seeking to link China to Europe.

Hong Kong’s key Hang Seng index edged up 0.6 percent as corporate earnings remain in play. Asia’s largest refiner Sinopec lost 2.4 percent after posting its first quarterly loss since going public.

Nikkei Futures

nikkeifutures.org@imediaone.com

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