Asia morning market brief Oct 1

Wall Street closed in the green on Monday, rounding off a solid quarter that saw the S&P 500 reach multiple new peaks and increased rotation out of Big Tech into beaten down sectors and small cap stocks.

Investors in Asia on Tuesday will digest this and the remarkable market moves in the continent’s two biggest economies the day before.

Chinese markets are now closed until Tuesday next week as the country celebrates Golden Week. The market break could not have been better timed.

Monday’s 8% surge means Chinese stocks have risen by around a quarter since Sept. 23, when Beijing unveiled the first of a series of stimulus measures to support the economy and markets. A 25% increase, in a week, is nothing less than extraordinary.