Most Asian Markets Positive

Asian markets open for trading on Monday, the first day of the trading session, ended mostly in positive territory, lifted by optimism about solution for Ireland's debt crisis from the International Monetary Fund and the European Union. Positive closing on Wall Street on Friday amid optimism about sustaining economic recovery also lifted market sentiment, with resource stocks leading the gains. The markets in China and Hong Kong, however, ended in negative territory following tightening controls imposed by China to cool-down its economic growth.

In Australia, the benchmark S&P/ASX200 Index advanced 14.30 points, or 0.31%, and closed at 4,643 points, while the All-Ordinaries Index ended at 4,732, representing a gain of 14.10 points, or 0.30%.

Queensland freight railway company, QR National made an impressive in the market with a public float that eventually turned out to be the major trader with large volume and value, lifting the overall sentiment in the market, amid optimism about the strength of the Australian economy. The shares of the company, listed at A$2.54 ended at A$2.65 a share at close.

Mixed trading was witnessed among the major resource stocks. BHP Billiton added 0.62%, Rio Tinto advanced 0.50%, Gindalbie Metals climbed 3.06%, Iluka Resources gained 1.16%, Macarthur Coal rose 0.82%, and Minara Resources surged up 3.25%. However, Fortescue Metals ended in negative territory with a loss of 1.19%, Murchison Metals fell 2.05% and Oz Minerals shed 1.16%. Mincor Resources remained unchanged from previous close.

Mixed trading was also witnessed among banks and financial stocks. ANZ Bank slipped 0.04%, Commonwealth Bank of Australia declined shed 0.16% and National Australia Bank was down 0.29%. However, Westpac Banking Corp. bucked the negative trend and ended in positive territory with a gain of 0.46% and investment banking company Macquarie Group advanced 0.66%.

Gold mining stocks Newcrest Mining ended in negative territory with a loss of 0.60%.

Oil related stocks also witnessed mixed trading. Santos Ltd and Oil Search Ltd remained unchanged from previous close. ROC Oil Ltd ended in negative territory with a loss of 1.28%. However, Origin Energy ended in positive territory with a gain of 0.77% and Woodside Petroleum gained 0.98%.

In Japan, the benchmark Nikkei 225 Index advanced 92.80 points, or 0.93% 10,115.19, while the broader Topix index of all First Section issues rose 5.96 points, or 0.69%, to 875.

On the economic front, a report released by the Japan Chain Stores Association revealed that supermarket sales in the country fell 0.3% on an annual basis in October, the same rate of decline witnessed in September. The data further noted that sales before stores adjustment, were down 2.5% in October, following a 2.7% fall in the prior month.

Separately, a statement released by the Japan Franchise Association revealed that convenience store sales fell 5.9% year-on-year in October, following a 12.9% increase in the previous month. The report revealed that sales declined for the first time in four months. It has also revealed that the number of customers visiting convenience stores fell 4.4% year-on-year to 1,067,605 in October.

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