TOKYO: Chinese stocks closed lower on Monday on speculation authorities would limit monetary policy easing after signs of stabilisation in Asia's top economy but trade was lacklustre with many markets closed for Easter.
Investors had interpreted that as meaning"that the government will suspend the easing of monetary policy," said Shen Zhengyang, an analyst at Northeast Securities. The benchmark Nikkei 225 index rose 0.08 per cent while the broader Topix index was up 0.10 per cent. Precision motor maker Nidec is reporting on Tuesday and industrial robot maker Fanuc the day after, noted Ishiguro, who added that investors would also be scrutinising results from US IT giants Amazon and Microsoft later this week.
Turning to foreign exchange markets, Resona Bank said in a commentary that trade was affected by the holidays. Stephen Innes, head of trading at SPI Asset Management, said that a"positive confluence of events continues to support risk sentiment."
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