Asian Equities Higher on Wall Street Surge

Asian stocks rose on Monday after Wall Street rallied on an easing of tensions in Ukraine, although conflicts in other geopolitical hotspots such as Iraq limited gains.

Wall Street surged on Friday after Russia said it had finished military exercises in southern Russia, which the United States had criticized as a provocative step amid the Ukraine crisis.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.7 percent after shedding 0.9 percent on Friday.  Tokyo’s Nikkei .N225 rose 1.9 percent, and also was helped as the yen’s sharp rally against the dollar on Friday was reversed. The index had lost 3 percent on Friday.  U.S. stock futures ESc1 pointed to a slightly firmer open on Wall Street later in the day.

Reuters

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