Asian Equities Higher following S&P 500’s High

Asian stocks rose on Monday after the S&P 500 closed at a record high on Friday and as geopolitical risks faded following a victory for billionaire Petro Poroshenko in Ukrainian elections.

A better-than-expected April home sales report saw U.S. stocks gain for a third day on Friday, with the S&P 500 closing above 1,900 points for the first time ever.

Political developments over the weekend are in focus. In Ukraine, exit polls showed Petro Poroshenko winning the presidential election with just under 56 percent of the vote. Poroshenko promised to restore the country to order following months of fighting with pro-Russian separatist forces and the government.


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