"Equity markets are the best asset class out there at the moment"
-Steve Brice, Singapore-based chief investment strategist at Standard Chartered Plc.
Banks in Japan were closed on Monday in observance of Respect for the Aged Day.
The Nikkei 225 Stock Average surged 1.83 per cent, or 164.24 points, to 9,159.39. The broader Topix Index advanced 1.70 per cent, or 12.65, to 756.88.
"Equity markets are the best asset class out there at the moment. But we do believe we're a little bit over-extended in the short term," said Steve Brice, Singapore-based chief investment strategist at Standard Chartered Plc.
"We think Fed's action could aversely impact China's bias to ease, at the margin. We think this has marginally reduced the odds of easing for a number of countries largely due to rising inflation expectations, especially among central banks that have been somewhat neutral to hawkish," Citigroup Global Markets Asia-Pacific Chief Economist Johanna Chua wrote in a report dated today.
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