Most of the Asian markets open for trading on Monday, except Japanese market which is closed for a holiday, ended in positive territory amid hopes of fresh quantitative measures from the US Federal Reserve after jobs report for September came in worse than expected with more than 95,000 jobs lost as against expectations of no job losses for the month. Positive closing on Wall Street in the previous session and higher commodity prices in the international market amid weaker dollar also impacted market sentiment.
In Australia, the benchmark S&P/ASX200 Index gained 16.10 points, or 0.34%, and closed at 4,697 points, while the All-Ordinaries Index ended at 4,762, representing a gain of 21.60 points, or 0.46%.
On the economic front, a report released by the Australian Bureau of Statistics revealed that the total value of dwelling finance commitments excluding alterations and additions fell a seasonally adjusted 1.3% from a month ago to A$20.1 billion. The report further revealed that the value of finance commitments for owner occupied housing was unchanged at A$13.6 billion, while that for investment housing fell 3.9% to A$6.5 billion. In volume terms, the number of owner occupied dwelling commitments rose 1% to a little over 47,500.
Light sweet crude oil futures for November delivery ended at $83.15 a barrel in electronic trading, up $0.49 per barrel from previous close at $82.66 a barrel in New York on Friday.
Resource related stocks led the gains on higher commodity prices as well as strengthening local currency against the US dollar. BHP Billiton advanced 1.10%, Rio Tinto added 0.68%, Fortescue Metals surged up 7.76%, Gindalbie Metals climbed 3.54%, Iluka Resources was up 0.93%, Mincor Resources gained 1.49%, Minara Resources rose 0.50% and Oz Minerals was up 3.82%.
Oil related stocks also ended in positive territory. Woodside Petroleum gained 1.15%, Santos Ltdadvanced 1.10%, ROC Oil Ltd surged up 5.00% and Origin Energy was up 0.61%. However, Oil Search Ltd bucked the trend and ended in negative territory with a loss of 0.32%.
In Japan, the stock market was closed for a public holiday.
The Indian market ended a range-bound session modestly higher on Monday, tracking positive global cues. The benchmark Sensex rose to a high of 20,461 in early trading but failed to maintain early gains as investors booked profits at higher levels.
However, second-line stocks received good support, as investors indulged in stock-specific activity ahead of the upcoming second-quarter earnings season. The BSE mid-cap index rose 0.79% and the small-cap index added 1.30%. In the broader market, gaining shares outpaced declining ones by 1840 to 1073 shares.
The 30-share Sensex ended off the day's high at 20,340, up 90 points or 0.44%, with 18 of its components edging higher. The broader Nifty ended up 32 points or 0.53% at 6,134.
Among the other markets in the region, China's Shanghai Composite Index gained 68.20 points, or 2.49% to close at 2,807, Jakarta Composite Index in Indonesia edged higher by 1.79 points, or 0.05%, to 3,589, and the Strait Times Index in Singapore added 10.07 points, or 0.32%, to close at 3,163. However, Taiwan Weighted Index ended in negative territory with a loss of 67.43 points or 0.82% at 8,177.