Asian Markets Mostly Rose Amid Optimism and Chinese Economic Hopes

Asian markets kicked off the week with a rising trend on Monday, Dec. 2. Promoted by China's growing manufacturing sector and Wall Street's record-setting gains in November, the sentiment turned optimistic.

China led the region’s rally, with the Shanghai Composite Index climbing 1.13% and the Hang Seng Index rising 0.65%. And, Taiwan's Taiex surged 2.13%. Monday's data showed that the Caixin Manufacturing PMI rose to 50.3 from 50.1 in October, achieving a slightly higher-than-expected increase and hitting the highest record since June. The increase was driven by higher output and new orders following China's September stimulus. As a result, investors are now looking to China for additional support measures.

Following the trend, Japan's Nikkei 225 index advanced 0.80% despite the 1.02% dip in Nissan Motor Corp (OTCMKTS: NSANY), the auto sector leading stock. Nissan was weighed down by reports of its CFO stepping down amid cost-cutting measures tied to weak sales in China and other markets.

South Korea’s Kospi fell 0.06%. Malaysia's FTSE Malaysia KLCI index rose 0.05%.

Australia’s S&P/ASX 200 edged up 0.14% following data showing that national retail sales were better than expected in October.

India's Nifty 50 index rises 0.63% as of the press time. The Reserve Bank of India (NS: BOI) will release its decision on key interest rates on Friday, Dec. 6. The market expected it would maintain the rates on its sticky inflation.

However, the downside to regional sentiment remains. Trump threatened to impose 100% tariffs on goods from BRICS countries (Brazil, Russia, India, China and South Africa) if they intended to weaken the dollar's hegemony with alternative currencies. This will put a damper on the rally in Asian markets.