Asian Equities Higher after U.S. Lead

Asian shares started the week on a strong note on Monday after a weaker U.S. dollar helped fuel solid gains on Wall Street.  The greenback took back a bit of lost ground in Asian trading, with the dollar index .DXY edging up about 0.1 percent to 98.024, moving well away from last week’s low of 96.628.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added about 0.4 percent.  Australian shares turned negative, with the S&P/ASX 200 index .AXJO coming with a few points of topping the 6,000 level for the first time in seven years, before dropping as investors took profits.

Japan’s Nikkei stock average .N225 extended gains, rising about 1.1 percent to 19,769.71 by the end of the morning session, refreshing a 15-year high and closing in on its own big-figure milestone.  “Sentiment for Japanese stocks has been positive, and the 20,000-mark is in sight in the short-term,” said Isao Kubo, equity strategist at Nissay Asset Management.

Reuters

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