Most Asian markets rose Monday amid indications of improving business conditions in Japan and on continued optimism about the measures taken in the EU summit to alleviate the euro zone debt burden.
Japan's Nikkei Stock Average rose 0.16 percent or 14.15 points to 9020.93. Among major gainers were Fujikura Ltd (2.97 percent), NEC Corp (1.63 percent) and Nomura Holdings Inc (1.02 percent).
South Korea's KOSPI Composite Index rose 0.11 percent or 2 points to 1856.01. Shares of Daewoo Electronic Components climbed 14.58 percent and those of LG Electronics Inc rose 0.33 percent.
The Chinese Shanghai Composite rose marginally to 0.05 percent or 1.03 points to 2226.46. Hong Kong's Hang Seng remained closed Monday for the holiday.
India's BSE Sensex marginally rose 0.03 percent or 5.12 points to 17435.10. Among major gainers were Cairn India Ltd (1.14 percent), Suzlon Energy Ltd (0.81 percent) and Sesa Goa (0.76 percent).
The Tankan survey released by the Bank of Japan Monday reported that large manufacturers' outlook index improved to -1 in June up from -4 in March. Market sentiment turned positive with the improvement in the outlook index, indicating that the economic condition of Japan is on the path of recovery.
Data released Sunday by the National Bureau of Statistics and China Federation of Logistics and Purchasing show that the country's Purchasing Managers' Index declined to 50.2 in June from 50.4 in May. Investors are hoping for more aggressive policy easing to be announced by China as the softening of manufacturing activities in June is a reflection of the deteriorating export situation.
The measures announced in the EU summit, which concluded last week in Brussels, continued to spread optimism among market participants. The positive momentum formed after the announcement of agreement to recapitalize euro zone banks without adding to government debt propelled the markets forward.
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