Asian markets continued their recent rises, as positive US jobs data on Friday eased fears of a global slowdown. The MSCI Emerging Markets Index rose to a four-week high, while Indonesia’s Jakarta stock exchange set a new record. Elsewhere, the head of Taiwan’s central bank said that Asian countries should reduce the impact of currency fluctuations by establishing “formal regional exchange-rate coordination mechanism”. China: the Shanghai Composite rose 1.5 per cent to 2,696.25. Insurer Ping An was up 4.5 per cent after authorities ruled that insurers can invest in property assets of private companies. Ping An is now 15 per cent above its June low. The Shenzhen Composite was flat around 1,178.35. However, Chinese small-caps are struggling to maintain their recent surge - with the ChiNext index of start-ups falling 2.5 per cent. Li Jun of Central China Securities Holdings told Bloomberg: “It’s only a matter of time before small caps will drop. Valuations are too high and that’s not justified by earnings growth.” In Hong Kong, the Hang Seng rose 1.8 per cent to 21,355.77. India: the BSE Sensex was trading up 1.8 per cent at 1000 BST , around 18,553. Tata Steel climbed nearly 6 per cent to a three-and-a-half month high, while India’s biggest aluminium producer - Hindalco - rose 5.1 per cent after announcing $2.1bn worth of investment this fiscal year. Thailand: the SET was up 0.9 per cent in late trading just below 940, led by oil company PTT which is now up around 14 per cent for September, at a two-year high. PTT is expected to gain from last week’s court approval of the Map Ta Phut industrial park. The SET index will “easily break” 1,000 this year, the head of Thailand’s biggest money manager, Kasikorn Asset Management, Rapee Sucharitakul, told Bloomberg. “Thai companies’ earning growth is accelerating on higher exports and a rebound in domestic consumption and investments,” Sucharitakul said, adding that investors should switch from banking stocks to retail and construction companies. Indonesia: the Jakarta Composite is now up 4.4 per cent for September - it gained 1.7 per cent on Monday to close at 3,217.15. Carmaker Astra International rose over 4 per cent to a five-week high. Indonesia should grow over 6 per cent in the third quarter, the chief economic minister told Reuters, citing increasing government spending and investment. In South Korea the Kospi was up 0.7 per cent to 1,792.42, while in Taiwan the Taiex rose 0.8 per cent to 7,890.95. In the Philippines, the stock exchange was up 0.3 per cent to 3,744.01. Vietnam’s main index gained 1.6 per cent - the market is now up 10 per cent since its close on August 25. Currencies: the Philippine peso gained 0.2 per cent to 44.2 against the dollar, a four-month high, after the head of the country’s central bank said late on Friday that the country’s balance of payments may exceed $3.7bn this year. Amando Tetangco said inflows from remittances and investors will offer “fundamental support” to the peso. The Thai baht continued its recent strength, adding 0.1 per cent to trade at 31.0 to the dollar. The governor of Taiwan’s central bank, Perny Fai-nan, has pointed to the risks of currency fluctuations. In a recent article for The Banker magazine, he wrote:

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