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Positive Monday for Asian markets | |
(about 3 hours later) | |
Japanese markets began the week in positive territory, with the benchmark Nikkei 225 index up by 0.2% to 16,197 at midday. | |
Shares of electronics maker Sharp jumped more than 5% after a takeover deal with Taiwan's Foxconn was finalised at the weekend. | |
But a strong Japanese yen dented stocks of exporting companies, hitting carmakers hard. | |
Shares in Toyota, Nissan and Honda all traded lower. | |
In South Korea, the main index, the Kospi, edged slightly higher, by 0.1% to 1,974. | |
It was also a positive start for stocks in Australia. | |
The benchmark S&P/ASX 200 gained 34.6 points to 5,034, despite a flat reading for retail sales in February. | |
Last week, the S&P/ASX 200 fell below the 5,000 level. | |
Spotlight on rates | |
The Reserve Bank of Australia, the country's central bank, will hold its monthly meeting on interest rates on Tuesday. | |
The majority of economists polled by Reuters are expecting the central bank to keep its key lending rate on hold at its current record low of 2%. | |
The central bank in India will also hold its monthly meeting on interest rates on Tuesday. Low inflation in India could be a factor in the Reserve Bank of India's future policy on rates. | The central bank in India will also hold its monthly meeting on interest rates on Tuesday. Low inflation in India could be a factor in the Reserve Bank of India's future policy on rates. |
Markets in China were shut on Monday for a national holiday - Tomb Sweeping Day. Trade will resume on Tuesday. | |