Asian shares follow Wall Street gains

The government has forecast growth of around 7 percent but a run of weak data has reinforced market expectations the final outcome will be below 7 percent. The Shanghai Composite Index now rests just above the 3,155-point plateau, and the market may extend its gains on Tuesday.

Most sectors rose at the close, but the CSI300 Banks Index ended down 0.3 percent.

“The Fed’s policy action or inaction is creating quite a bit of confusion in the market”, Bernard Aw, a strategist at IG Asia Pte in Singapore, said by phone.

The NASDAQ inched up 1.73 points or less than a tenth of a percent to 4,828.96, while the Dow advanced 125.61 points or 0.8 percent to 16,510.19 and the S&P 500 climbed 8.94 points or 0.5 percent to 1,966.97.

Speaking at the Shanghai Stock Exchange, Osborne said he was keen to see a formal stock market trading link between China and London, part of his goal to make Britain China’s “best partner in the West”. Caixin’s preliminary index based on a survey of factory purchasing managers will be closely watched for any signs of improvement after sinking to a six-year low in August.

The U.S. decision last week not to raise rates immediately only boosted stock markets for a short time. Total trading volume of companies included in the HSI index was 1.5 billion shares. Then a quartet of Fed officials muddied the waters, talking up prospects for higher interest rates in 2015. Investors now put the probability of a rate rise in 2015 at less than 50 per cent, and will keenly watch a lecture by Fed Chair Janet Yellen later this week for more clues as to when and if borrowing costs will increase this year.