China's overall economy remained relatively stable in the first quarter, showing solid stability, and with the Chinese yuan notching 7,074 per US dollar, 0.1 percent higher than its previous 7,080 close, everything shouldn't be so gloomy on the economic front, Guosen Securities noted in a statement.
China's shares wrapped up late Monday, expecting that the country and the US would come to terms on a trade agreement and that Beijing will extend its economic policy aid.
US President Donald Trump on Friday announced he hoped that a trade pact with China would be concluded by the time the Asia-Pacific Economic Cooperation meetings were conducted in Chile on November 16 and 17.
Chinese Vice Premier Liu He on Saturday disclosed that the government would collaborate with Washington to tackle each other's main worries on the merits of equality and that putting an end to their trade misunderstandings would be beneficial for both sides.
Friday's market figures indicated that the mainland's gross domestic product growth was hitting a nearly 30-year low, validating Beijing's optimism for fresh support.
Just last month, China's central bank more than tripled its authorization for investment projects with fixed assets, while Beijing continues to step up economic support.
China unsurprisingly maintained its latest lending rates unchanged late Monday, though analysts argued that the decision did not point to closure on loan prime rate (LPR)'s a downward adjustment.
"We still see every month's re-set of loan prime rates to provide an opportunity for a baby-step reduction," Frances Cheung, chief of Westpac's Asia macro strategy in Singapore, said.
On the China Shanghai Exchange, about 13.25 billion shares are exchanged, or 72.5 percent of the 30-day moving average of 18.26 billion shares a day on the board. The latest figure was around 15.00 billion in the previous trading session.
With insufficient economic data to drive the market in either direction, Hong Kong's Hang Seng index rose by 0.3 percent, while Shanghai-and Shenzhen-listed CSI 300 names in mainland China grew by 0.1 percent.
Kospi from South Korea rose by 0.9 percent, driven by a 1.2 percent increase in software stocks. S&P/ASX 200 from Australia added 0.3 percent as miners rose. For the enthronement ceremony of the new emperor of the state, Japanese markets are opened.
Meanwhile, the Nasdaq Composite has rallied steadily at 0.8 percent to 8,162.97 while the Dow Jones Industrial Average (DJIA) moved up 57.41 points, to 26,827.66.
The S&P 500 has also climbed 0.8 percent to 3,006.73, registering its first solid close over 3,100 since last month. The S&P 500 this week was able to notch an all-time peak it registered in July.
