Asian equities soar as Irma hit hard

Asian equities soar as Irma hit hard

On Monday, equities in Asia gained with market participants cautiously optimistic as for the damage from Hurricane Irma to Florida, as it didn’t appear to be as bad as expected even as Goldman Sachs dared to have its third quarter GDP surge estimate trimmed by 1% considering the impact of Hurricane Harvey.

Japan's Nikkei 225 rallied a smart 1.44%, South Korea's Kospi surged 0.79%, while the S&P/ASX 200 acquired 0.78%. Additionally, the Hong Kong Hang Seng index added 0.99%, the Shanghai Composite tacked on 0.13%.

Beside this, South Korean car makers Hyundai Motor as well as Kia Motors told they probably missed their 2017 sales objectives.  On Sunday Yonhap announced that South Korean exporters have been affected by a diplomatic tiff with China as for the deployment of an anti-missile defense system. Kia and Hyundai equities erased revenues observed earlier in the session to dip respectively 0.74% and 0.94%.

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