(RTTNews) - The markets across Asia, open for trading on Monday ended in positive territory, on optimism about recovery prospects in the world economy. Commodity stocks led the gains in the market on higher commodity prices. While the markets in Australia and India are closed for holidays, the other markets are open for trading.
In Japan, the benchmark Nikkei-225 Index gained 139.52 points, or 1.33%, to 10,634, while the broader Topix index of all First Section issues was up 5.39 points, or 0.59%, to 915.
On the economic front, a report released by the Ministry of Economy, Trade and Industry revealed that industrial production rose 2.6% during the month of November, higher than analysts' mean expectation of a 2.5% increase, compared to the previous month. The report further noted that, on annual basis, industrial production was down 3.9% versus forecasts for a 4.3% contraction after the 15.1% decline in the previous month.
In a separate report, the Ministry revealed that retail sales in the country declined 1% year-over-year during November, marking the 15th consecutive month of decline. The retail sales data, however, was in line with economists' expectations.
Light sweet crude oil futures for February delivery ended at $78.50 a barrel in electronic trading, up $0.45 per barrel from previous close at $78.05 a barrel in New York on Thursday.
Automotive stocks ended higher on increasing optimism about U.S. recovery. Honda Motor added 0.97%, Nissan Motor advanced 1.65%, Toyota Motor edged up 0.26%, Hino Motors climbed 1.88%, Isuzu Motors rose 3.53% and Mitsubishi Motors gained 0.78%.
Trading companies also ended in positive territory on better than expected industrial production data. Toyota Tsusho Corp. rose 2.07%, Marubeni Corp. climbed 3.59%, Itochu Corp. advanced 1.47%, Mitsui & Co. added 0.77%, Mitsubishi Corp. gained 0.44% and Sumitomo Corp. increased 0.88%.
Shipping stocks gained on optimism about global recovery. Kawasaki Kisen Kaisha gained 2.65%, Mitsui OSK Lines rose 2.92% and Nippon Yusen advanced 1.41%.
Oil and mining stocks also advanced on higher crude oil prices. Nippon Oil Corp. surged up 4.80%, Nippon Mining Holdings soared 5.43% and Impex Corp. climbed 1.84%.
Bank stocks, especially large banks, ended in negative territory. Mitsubishi UFJ Financial slipped 0.43%, Mizuho Financial lost 0.59%, Resona Holdings edged down 0.11% and Sumitomo Mitsui Financial shed 0.55%.
In Hong Kong, the Hang Seng Index ended in negative territory with a modest loss of 36.78 points, or 0.17% at 21,480, dragged down by property related stocks at the last hour of trading session following disappointing results from the expected government land auction. The government auctioned 2 properties at a price lesser than the market price, damping speculations. Property stocks such as New World Development, SHK Property and Henderson Land dragged the overall indices lower. Most other stocks ended in positive territory on optimism about global recovery.
