China and Hong Kong Leading Asian Stock Markets

Mainland As Asia-Pacific markets began the final trading week of August on a positive note, Chinese and Hong Kong stocks led the way.

The Chinese government reduced the stamp duty on stock trades on Monday. According to the finance ministry, the move is intended to "invigorate the capital market and boost investor confidence."

The benchmark CSI 300 index rose 1.17%, while the Hang Seng index in Hong Kong rose 0.95%, led by consumer cyclicals and health-care stocks.

As trade resumed after 17 months, shares of China Evergrande Group, the world's most indebted property developer, fell 87%.

The Nikkei 225 in Japan rose 1.73% to 32,169.99, while the Topix rose 1.47% to 2,299.81. The Kospi in South Korea rose 0.96% to 2,543.41, while the Kosdaq gained 1.11% to 909.38.

Australia’s S&P/ASX 200 gained 0.63% to close at 7,159.8 after the country’s retail sales climbed 0.5% month on month, higher than the 0.3% expected by economists