Asian markets up on speculation about U.S. stimulus measures

Key Asian markets were slightly higher in Monday's early morning trade as investors speculate that the United States Federal Reserve may come up with more stimulus policies to boost the world's largest economy, against the backdrop of the euro zone's debt crisis and recent data that indicated a global economic slowdown could hit soon.

At 10am today, Tokyo's Nikkei 225 was up 0.19% to 8,735.57, Hong Kong's Hang Seng Index rose 1.14% to 19,620.94 and Shanghai's A share index was 0.65% higher at 2,550.86.

Singapore's Straits Times Index was up 0.56% to 2,748.95. However, the local bourse's benchmark index was 0.47% lower at 1476.98.

At Bursa Malaysia, losers overwhelmed gainers by 269 to 121 while 184 other counters were traded unchanged.

There were 137.78 million shares done with a total turnover of RM267 million.

Among the gainers were Malayan Flour Mills Bhd which was up 16 sen to RM7.67 and Spritzer Bhd which rose 13.5 sen to 98 sen.

The losers included Ann Joo Resources Bhd which fell 12 sen to RM2.42 and Hong Leong Bank Bhd which fell 18 sen to RM12.82.

At 10am today, Nymex crude oil in electronic trade was US$0.91 higher at US$83.17 per barrel.

Meanwhile, jittery investors continued to seek safety in gold and at 10am, spot gold was quoted at US$1,870.10 per ounce while spot silver was quoted at US$43.40.

The ringgit was quoted at RM2.97 to the US dollar and RM4.28 to the euro.(The Star Online)