HONGKONG, Feb 23 (Internet-CNBC): Asian markets mostly rose on the first
trading day of the Year of the Sheep, buoyed by a bailout deal between
Greece and the euro zone last week. However, trading volumes remain
light with China, Taiwan and Vietnam still closed for the Chinese New
Year holiday.
Wall Street set the positive mood by closing at highs last Friday after Greek and euro zone finance ministers agreed to extend the country's financial rescue by four months. The Dow Jones Industrial Average closed up 0.9 per cent, while both the S&P 500 and Nasdaq finished 0.6 per cent higher.
However, there are analysts who remain cautious, saying the Greek crisis may not be "out of the woods yet." "(Greece) has until today (Monday) to submit their list of reforms to the Europeans so there's still anxiety in the markets about whether the list will satisfy the Germans. (Bailout extension) is a positive signal but there's more to come," Clive McDonnell, head of Equity Strategy at Standard Chartered, told CNBC Asia's "Squawk Box."
Nikkei jumps 0.7pc
Japan's key Nikkei 225 index settled at a fresh 15-year high as the yen traded near the 119 handle.
Among blue-chip exporter stocks, Mitsubishi Electric and Toyota Motor piled on 0.8 and 0.6 per cent, respectively, but Canon and Sony added 0.3 and 0.1 per cent each. Toshiba erased gains to finish flat.
Airbag maker Takata underperformed the bourse with a slump of nearly 0.3 per cent, after being slapped with a $14,000 per day fine by US regulators for failing to fully cooperate with a probe into its faulty airbags, which have been linked to six deaths and dozens of injuries. Fanuc also fell 2.8 per cent after activist investor Dan Loeb says the announcement of a 130 billion yen capital expenditure plan isn't enough to fix the robot maker's "blatant capital inefficiency."
Meanwhile, three members of the Bank of Japan's (BoJ) policy board expressed doubts the central bank can meet its inflation target due to falling oil prices, minutes from the BOJ's last policy meeting showed.
STI dips, focus on budget
Singapore shares slipped 0.4 percent after data showed January's consumer price index fell 0.4 percent from a year earlier, wider than expectations in a Reuters poll.
There was also focus on Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam's 2015 budget statement.
Singapore unveiled a budget that includes higher retirement benefits, larger infrastructure spending and corporate tax rebates amid speculation early elections will be called this year.
Meanwhile, markets may keep an eye on news that Singapore's founding father and former prime minister, Lee Kuan Yew, has been hospitalized for severe pneumonia over the past two weeks. According to a government statement on Saturday, the 91-year-old's condition has since stabilised.
Wall Street set the positive mood by closing at highs last Friday after Greek and euro zone finance ministers agreed to extend the country's financial rescue by four months. The Dow Jones Industrial Average closed up 0.9 per cent, while both the S&P 500 and Nasdaq finished 0.6 per cent higher.
However, there are analysts who remain cautious, saying the Greek crisis may not be "out of the woods yet." "(Greece) has until today (Monday) to submit their list of reforms to the Europeans so there's still anxiety in the markets about whether the list will satisfy the Germans. (Bailout extension) is a positive signal but there's more to come," Clive McDonnell, head of Equity Strategy at Standard Chartered, told CNBC Asia's "Squawk Box."
Nikkei jumps 0.7pc
Japan's key Nikkei 225 index settled at a fresh 15-year high as the yen traded near the 119 handle.
Among blue-chip exporter stocks, Mitsubishi Electric and Toyota Motor piled on 0.8 and 0.6 per cent, respectively, but Canon and Sony added 0.3 and 0.1 per cent each. Toshiba erased gains to finish flat.
Airbag maker Takata underperformed the bourse with a slump of nearly 0.3 per cent, after being slapped with a $14,000 per day fine by US regulators for failing to fully cooperate with a probe into its faulty airbags, which have been linked to six deaths and dozens of injuries. Fanuc also fell 2.8 per cent after activist investor Dan Loeb says the announcement of a 130 billion yen capital expenditure plan isn't enough to fix the robot maker's "blatant capital inefficiency."
Meanwhile, three members of the Bank of Japan's (BoJ) policy board expressed doubts the central bank can meet its inflation target due to falling oil prices, minutes from the BOJ's last policy meeting showed.
STI dips, focus on budget
Singapore shares slipped 0.4 percent after data showed January's consumer price index fell 0.4 percent from a year earlier, wider than expectations in a Reuters poll.
There was also focus on Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam's 2015 budget statement.
Singapore unveiled a budget that includes higher retirement benefits, larger infrastructure spending and corporate tax rebates amid speculation early elections will be called this year.
Meanwhile, markets may keep an eye on news that Singapore's founding father and former prime minister, Lee Kuan Yew, has been hospitalized for severe pneumonia over the past two weeks. According to a government statement on Saturday, the 91-year-old's condition has since stabilised.
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