Asian markets surged on Monday, driven by Chinese government plans to boost consumption through increased incomes, as well as positive updates from major tech firms.
Chinese stocks closed 0.24% lower, while Hong Kong’s Hang Seng Index rose 0.77%, following the release of a “Special Action Plan to Boost Consumption” aimed at revitalizing domestic spending. The plan also includes measures to stabilize the stock and real estate market, as well as raising birth rates.
In Japan, benchmark Nikkei 225 stocks climbed 0.93% higher, while yields on 40-year Japanese Government Bonds (JGBs) reached a record high of 3.007%. South Korea’s Kospi index advanced 1.73%, and India’s Nifty 50 increased 0.35%.
Meanwhile, US President Donald Trump stated that he has no intention of applying exemptions to the steel and aluminum tariffs imposed by the White House, which led to reciprocal countermeasures from trading partners such as the European Union.
Tech stocks also saw gains, with shares in Kioxia Holdings surging nearly 9% after announcing its new LC9 series featuring generation 8 3D flash memory technology. Mitsubishi Heavy Industries shares gained over 10%, while Samsung Electronics surged 5.67%. Standard Chartered’s senior investment strategist said the outlook for Chinese companies appears upbeat due to government support and valuation re-rating in the tech sector.
The Asian market rally continues as investors look to emerging economies, technological advancements, and government stimulus plans for growth opportunities.
Source: https://www.cnbc.com/2025/03/17/asia-markets-live-stocks-set-to-rise.html