Asia markets rise as China support measures lift sentiment

Macro
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Asian markets traded mostly higher on Monday, led by a rebound in Chinese equities after Beijing stepped up efforts to stabilize its stock market. China's SHCOMP increased 1.18%, rebounding from last week's sharp losses, while Hong Kong's HSI rose 2.08% as technology and consumer shares led a broad-based rally. Sentiment improved after two major state-backed funds announced fresh equity purchases and regulators planned meetings with key industry participants. Japan's Nikkei was closed for Marine Day, and India's SENSEX fell 0.87% to 77,491 as Brent crude climbed above $90 per barrel, intensifying concerns over the import bill and inflation outlook. In other parts of Asia, the TAIEX rose 0.4% to 42,823, and Australia's AS51 gained 0.08% while its 10-year government bond yield climbed above 4.9%, hitting a six-week high.

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