Most Asian stock exchanges closed Monday trading session on green, focusing on trade in Malaysia after the country’s election. The FTSE Bursa Malaysia KLCI managed to recover its 2% loss from the start of the session and close with a growth of 0.88%. The country’s stock exchange was not working end of last week after the surprising victory of opposition leader Mahathir Bin Mohamad on the parliamentary elections. Meanwhile, the local currency has fallen by nearly 1% against the US dollar.
In the early hours of trade in Malaysia, the shares of companies related to the coalition lost the most. CIMB Group and AirAsia Group started the day with declines in the value of their securities by 8.26% and 4.59%, respectively. The shares of some construction companies also suffered because of the information that construction projects started with the previous administration will be reviewed.
The Japanese blue-chip index Nikkei 225 rose by 0.47% to 22,865.86 points. The broader index Topix expanded by 0.61%. The sub-index tracking the real estate sector grew by 3.1% and the mining sector finishing on red.
On the stock exchange in South Korea Kospi erased its earlier growth and dropped by 0.06% to a level of 2,476.11 points. Samsung Electronics shares declined by 2.34%. Overall, the representatives of the technology sector did not find a single direction, while most steelmakers enjoyed the interest of investors.
In Hong Kong, the Hang Seng added 1.18% to its value to 31,489.34 points, marking the sixth consecutive winning session. In the mainland, Shanghai Composite advanced 0.34% to 3,174.14 points.
The Australian benchmark S&P/ASX 200 managed to move upward by 0.31% to 6,135.30 points thanks to the energy and raw materials sectors.
The broad MSCI index for the Asian-Pacific region (excluding Japan) rose by 0.42%.
Shortly before the US-China trade talks this week, the US President Donald Trump asked to help Chinese technology giant ZTE to “get back into business quickly” after US sanctions hit the Chinese technology company.