Thu, 28 May 2020

SYDNEY, Australia - Stocks in Asia were mostly higher on Monday, with solid gains being recorded in Tokyo, Hong Kong and Sydney as there were some indications the mounting death toll from coronavirus was levelling off.

Stocks in China were flat to slightly lower.

"With a very light calendar globally today, there is enough momentum to keep the equity rally running through the course of the day and also into European time," Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA was quoted as saying by the Reuters Thomson news agency Monday.

"All bets are off after that although I could see a couple of days of positive sentiment ahead, especially if those mortality rates keep falling."

At the close of trading Monday, the Nikkei 225 in Japan was sharply higher. The key index rose 756.11 points or 4.24% to 18,576.30.

The Australian All Ordinaries jumped 216.70 points or 4.24% to 5,323.60.

Hong Kong's Hang Seng advanced 513.01 points or 2.21% to 23,749.12.

Going against the trend, China's Shanghai Composite dipped 16.65 points or 0.60% to 2,763.99.

The U.S. dollar was in demand on Asian markets Monday, with all the major currencies losing ground to the greenback.

The euro fell to 1.0799. The British pound slipped to 1.2305. The Japanese yen as softer at 109.17. The Swiss franc eased to 0.9776.

The Canadian dollar was little changed at 1.4116.

The Australian dollar was down a fraction at 0.6858, while the New Zealand dollar was unchanged at 0.5918.

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