US market was closed yesterday for public holiday. European shares gained on the back of higher commodity prices overnight. Asian markets ended mixed on Monday while traders are awaiting US corporate earnings. Japan's Nikkei 225 fell 1.2%, Hong Kong's Hang Seng Index dropped 0.9%, China's Shanghai Composite rose 0.4%, South Korea's Kospi gained 0.6% and Taiwan's Taiex slipped 0.2%.
Overnight US shares was lower on the disappointing Alcoa fourth-quarter report and profit warning from Chevron and Electronic Arts. Financial sector also fell as investors feared that a potential government levy might hurt bank profits.
US stocks was slightly higher on Friday, hitting at least 15-month closing highs despite a bigger-than-expected job loss data. US dollar was lowered on the disappointing payroll data. This week the US firms, which are widely expected to show significant improvement compared to the corresponding period last year, will kick off the quarterly earnings reporting season.
Asian shares could be lifted after US and European markets rallied overnight on optimistic outlook of 2010. Yesterday Asian markets mostly kicked off the new year with gains. Japan's Nikkei surged 1 per cent on yen's weakness and a financial lifeline to Japan Airlines. The global markets also cheered for the strong manufacturing data from China and India. However, China's Shanghai Composite fell 1 per cent on Monday over fears on inflation.
Overnight US markets was higher, helped by the healthcare sector after Senate's initial procedural vote to advance a healthcare reform bill. Alcoa and Intel shares also led the top gainers while their investment ratings were upgraded.
Most Asian markets delivered modest gains on Thursday as positive US economic data restored confidence in a global economic recovery.
Asian share markets mostly fell on Friday as investors' sentiment turned soured after the Wall Street losses overnight. Tokyo stocks fell sharply with the key Nikkei index hitting a fresh four-month intraday low under 9,500. Yen remained strong despite many key currencies were lower against US dollar.
