China's Shanghai Composite index surged 1.38%

Asian stocks advanced on Monday despite rising geopolitical tensions and concerns over sluggish demand in China.

Investors also shrugged off U.S.-Venezuela tensions and shifted focus to upcoming U.S. economic data that could influence Federal Reserve policy.

U.S. 10-year bond yields were steady ahead of December's jobs report along with JOLTS and ADP employment figures, ISM PMIs, and the Michigan consumer confidence survey results due this week.

Oil prices fell after OPEC+ decided to keep output unchanged through the first three months of the year.

China's Shanghai Composite index surged 1.38 percent to 4,023.42 despite fresh signs of slowing business growth. A private sector survey showed today that China's services activity expanded at its slowest pace in six months in December.

 

Hong Kong's Hang Seng index finished marginally higher at 26,347.24 after a choppy session. SMIC shares gained 1.9 percent after the China Integrated Circuit Industry Investment Fund (ICF) raised its stake in the chipmaker.

Powered by Capital Market - Live News