Investing.com - Asian stocks traded broadly higher in Monday’s session, snapping a two-day skid while flirting with the highest levels in nearly five years.
In Asian trading Monday, Japan’s Nikkei 225 advanced 1.43% despite USD/JPY trading lower on concerns the yen has fallen too far too fast against its major rivals. The benchmark Japanese index topped 15,000 last week. Japanese stocks are Asia’s best performers this year.
On Monday, Japan’s Economy Minister Akira Amari said that further declines in the yen could start having a negative impact on Japanese citizens and the ability of the government to manage such declines.
Japan’s Topix, the best-performing major equity index the world this year, added another 1.3%.
Hong Kong’s Hang Seng jumped 1.77% while the Shanghai Composite rose 0.34%. Chinese shares rose last week for third consecutive weekly gain. Data released earlier showed new home prices rose in 68 of 70 Chinese cities last month. Beijing, Shanghai and Guangzhou posted the largest year-over-year gains.
Chinese stocks hit seven-month highs last week as it appears buyers are stepping into that market, lured by compelling valuations.
The tumbling Australian dollar appears to be helping equities in the world’s 12th-largest economy as the S&P/ASX 200 Index added 1.2% to climb to its highest levels since June 2008. Last week, Goldman Sachs said AUD/USD could fall as low as 0.8000.
New Zealand’s NZSE 50 rose 0.21%. South Korea’s Kospi added 0.19% due in large part to a weakening won. The government there that volatile adversary North Korea fired four short-range missiles over the weekend.
Singapore’s Straits Times Index inched down 0.01% while S&P 500 futures nudged up 0.04%. The benchmark U.S. index added more than 2% last week.
In Asian trading Monday, Japan’s Nikkei 225 advanced 1.43% despite USD/JPY trading lower on concerns the yen has fallen too far too fast against its major rivals. The benchmark Japanese index topped 15,000 last week. Japanese stocks are Asia’s best performers this year.
On Monday, Japan’s Economy Minister Akira Amari said that further declines in the yen could start having a negative impact on Japanese citizens and the ability of the government to manage such declines.
Japan’s Topix, the best-performing major equity index the world this year, added another 1.3%.
Hong Kong’s Hang Seng jumped 1.77% while the Shanghai Composite rose 0.34%. Chinese shares rose last week for third consecutive weekly gain. Data released earlier showed new home prices rose in 68 of 70 Chinese cities last month. Beijing, Shanghai and Guangzhou posted the largest year-over-year gains.
Chinese stocks hit seven-month highs last week as it appears buyers are stepping into that market, lured by compelling valuations.
The tumbling Australian dollar appears to be helping equities in the world’s 12th-largest economy as the S&P/ASX 200 Index added 1.2% to climb to its highest levels since June 2008. Last week, Goldman Sachs said AUD/USD could fall as low as 0.8000.
New Zealand’s NZSE 50 rose 0.21%. South Korea’s Kospi added 0.19% due in large part to a weakening won. The government there that volatile adversary North Korea fired four short-range missiles over the weekend.
Singapore’s Straits Times Index inched down 0.01% while S&P 500 futures nudged up 0.04%. The benchmark U.S. index added more than 2% last week.