Asia report: Stocks rise across region amid elections focus

Asia-Pacific stock markets rebounded on Monday, marking a positive start to the week after last week's grim performance in global equities.

Local focus was also fixed on Thailand, where national elections saw the opposition on the verge of ending almost a decade of military-backed conservative rule.

“Asian equities are starting the week on the front foot with most major indices in the green, mirroring the positive sentiment seen in US and European futures, as the mood music around negotiations aimed at preventing a US debt default continued over the weekend,” said Patrick Munnelly at TickMill Group.

“The Turkish elections appeared poised for a second-round run-off between president Erdogan and his primary contender, Kilicdaroglu, as neither candidate seemed poised to surpass the 50% threshold required for an outright victory.”

Markets in the green across most of the region

In Japan, the Nikkei 225 rose by 0.81% to close at 29,626.34 while the broader Topix index climbed 0.88% to 2,114.85.

Among the top performers, NSK surged by 13.53%, Shinsei Bank rose by 8.55%, and Toyo Seikan Group increased by 7.9%.

Chinese markets experienced a solid day with the Shanghai Composite gaining 1.17% to end at 3,310.74 and the Shenzhen Component rising 1.57% to 11,178.62.

Leading the gains in Shanghai were Argus Shanghai Textile Chemicals and Beijing Bashi Media, both recording a 10% increase.

In Hong Kong, the Hang Seng Index advanced by 1.75% to 19,971.13, with Techtronic Industries seeing a 5.08% increase, China Resources Beer Holdings rising 4.63%, and Tencent Holdings improving 3.9%.

South Korea's Kospi index experienced modest gains, up 0.16% to close at 2,479.35.

Lotte and Hankook Tire were among the top performers in Seoul, advancing by 7.08% and 6.02% respectively.

Australian markets also saw a slight increase with the S&P/ASX 200 rising by 0.14% to 7,267.10.

Invocare led the charge with a 12.08% increase, followed by Sayona Mining which rose by 4.65%.

In New Zealand, the S&P/NZX 50 was the region’s odd one out, marginally declining by 0.01% to 11,937.60.

ANZ Holdings and Synlait Milk recorded losses, down by 2.8% and 2.08% respectively.

On the currency front, the yen was last 0.37% weaker against the dollar to trade at JPY 136.20.

The Aussie and Kiwi were meanwhile both stronger on the greenback, with the former last ahead 0.58% at AUD 1.4960, and the latter advancing 0.36% to change hands at NZD 1.6089.

In the commodities sector, Brent crude futures were last up 0.18% on ICE at $74.30 a barrel, while the NYMEX quote for West Texas Intermediate increased 0.27% to $70.23.

South Korea trade deficit narrows, Thailand economy expands

On the economic side of things, South Korea's trade imbalance saw a reduction for the fourth consecutive month, with April's deficit totaling $2.65bn according to fresh data.

The figure was a slight uptick from the preliminary reading of $2.62bn, and was a notable decrease from March's deficit of $4.74bn.

It was also below the deficit of $2.89bn that economists polled by Reuters had pencilled in.

Elsewhere, Thailand's economy demonstrated resilience in the first quarter of the year, posting year-on-year GDP growth of 2.7%.

That outpaced economists' forecasts, who had predicted a 2.3% rise.

On a seasonally-adjusted basis, the country's economy expanded by 1.9% in the first quarter, when compared to the final quarter of last year.

Reporting by Josh White for Sharecast.com.

NIKKEI 225 +238.04 (+0.81%) 29,626.34

RISERS
NSK +13.53% JPY 881.0
Shinsei Bank +8.55% JPY 2,806.0
Toyo Seikan Group +7.9% JPY 2,158.0
Mitsubishi Materials Corporation +7.42% JPY 2,390.0
Nippon Sheet Glass +7.33% JPY 688.0

FALLERS
Rakuten -9.05% JPY 643.0
Olympus Corporation -6.77% JPY 2,273.0
Sumitomo Heavy Industries -5.12% JPY 3,060.0
Sumitomo Realty & Development -3.88% JPY 3,241.0
Nissan Motor -3.7% JPY 512.8

SHANGHAi COMPOSITE +38.37 (+1.17%) 3,310.74

RISERS
Argus Shanghai Textile Chemicals +10.01% CNY 14.29
Beijing Bashi Media +10% CNY 5.17
China CSSC +10% CNY 28.61
Hongda +10% CNY 3.52
China Hi-Tech +9.99% CNY 3.52

FALLERS
IReader Tech -9.59% CNY 28.66
Inly Media -8.24% CNY 11.80
China Reform Culture Holdings -8.03% CNY 17.30
Beijing Gehua CATV Network -7.3% CNY 9.27
China Film -6.86% CNY 16.30

HANG SENG INDEX +343.89 (+1.75%) 19,971.13

RISERS
Techtronic Industries +5.08% HKD 82.75
China Resources Beer Holdings +4.63% HKD 56.55
Tencent Holdings +3.9% HKD 341.00
Ping An Insurance +3.85% HKD 58.05
China Life Insurance +3.68% HKD 15.22

FALLERS
Country Garden Holdings -4.26% HKD 1.80
JD.com -2.56% HKD 141.10
China Hongqiao -0.73% HKD 6.81
Tingyi -0.6% HKD 13.16
China Overseas -0.51% HKD 19.50

KOSPI 100 +6.51 (+0.27%) 2,441.41

RISERS
Lotte +7.08% KRW 30,250
Hankook Tire +6.02% KRW 37,000
Hanwha Solutions +4.79% KRW 47,000
Doosan Bobcat +3.23% KRW 51,200
HD Korea Shipbuilding +2.21% KRW 82,800

FALLERS
SD Biosensor -4.16% KRW 18,910
NCsoft Corporation -3.82% KRW 365,000
Meritz Financial -3.35% KRW 44,750
HMM -2.54% KRW 19,180
DB Insurance -2.43% KRW 76,200

S&P/ASX 200 +10.40 (+0.14%) 7,267.10

RISERS
Invocare +12.08% AUD 12.43
Sayona Mining +4.65% AUD 0.225
Evolution Mining +4.23% AUD 3.94
Regis Resources +3.87% AUD 2.15
De Grey Mining +3.47% AUD 1.49

FALLERS
Nanosonics -8.93% AUD 5.10
WAM Capital -5.76% AUD 1.635
Contact Energy -4.15% AUD 7.16
ANZ Group Holdings -3.96% AUD 25.53
Eagers Automotive -2.81% AUD 14.18

S&P/NZX 50 -1.24% (-0.01%) 11,937.60

RISERS
Eroad +7.69% NZD 0.56
Scales Corporation +4.28% NZD 3.41
Vista Group +3.1% NZD 1.33
KMD Brands +1.85% NZD 1.10
Goodman Property +1.63% NZD 2.185

FALLERS
ANZ Holdings -2.8% NZD 25.30
Synlait Milk -2.08% NZD 1.41
A2 Milk -2.07% NZD 5.67
Kiwi Property -1.65% NZD 0.895
Sky Network Television -1.54% NZD 2.56