Asian markets started on a strong note on Monday after the Standard & Poor’s 500 hit a new high on Friday. Although cases of coronavirus are steadily increasing, strong data from Japan and China hold hopes of a rapid revival in economies. Japan’s growth rate figures have been very good. Japan’s economy grew at an annual rate of 21 percent in the last quarter. Apart from this, strong economic data from China has also boosted investor sentiment.
Tokyo’s Nikki-225 gained 1.6 percent to 25,798.41 points in early trade on Monday. Similarly, Hong Kong’s Hang Seng was trading at 26,209.66 points, up 0.2 percent. South Korea’s Cospi gained 1.6 percent to 2,534.78 points and Australia’s S&P / ASX-200 was up 1.2 percent to 6,484.30 points. China’s Shanghai Composite gained 0.4 percent to 3,322.25 points.