The China stock market on Monday snapped the four-day slide in which it had surrendered more than 65 points or 1.9 percent. The Shanghai Composite Index now rests just above the 3,390-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets suggests mild upside, with upbeat economic data tempered by a decline in crude oil prices. The European and U.S. markets ended higher and the Asian markets figure to open in similar fashion.
The SCI finished modestly higher on Monday as gains from the financials and oil companies were capped by weakness from the properties.
For the day, the index collected 9.49 points or 0.28 percent to finish at 3,392.40 after trading between 3,337.12 and 3,393.11. The Shenzhen Composite Index gained 0.9 percent to end at 1,971.93.
Among the actives, Bank of China added 0.51 percent, while Industrial and Commercial Bank of China jumped 1.33 percent, Agricultural Bank of China collected 027 percent, China Life tumbled 1.30 percent, Ping An Insurance gained 0.58 percent, PetroChina advanced 0.74 percent, China Petroleum and Chemical was up 0.17 percent, Gemdale skidded 1.27 percent and Vanke was unchanged.
The lead from Wall Street is firm as stocks saw modest strength on Monday, although buying interest was subdued, limiting the upside.
The Dow climbed 72.09 points or 0.31 percent to 23,430.33, while the NASDAQ edged up 7.92 points or 0.12 percent to 6,790.71 and the S&P gained 3.29 points or 0.13 percent to 2,582.14.
M&A news may have generated some positive sentiment, with chipmaker Marvell Technology (MRVL) reaching an agreement to acquire Cavium (CAVM) for about $6 billion.
In economic news, the Conference Board noted a bigger than expected jump by its index of leading U.S. economic indicators in October.
Crude oil prices fell Monday as a stronger dollar hurt most commodities. Oil has come under pressure of late due to speculation that global supplies will continue to outpace demand.
January WTI oil settled at $56.42/bbl, down 29 cents or 0.5 percent. December WTI oil slipped 46 cents or 0.8 percent to $56.09/bbl on the final day of the December contract.
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