Asian stocks advanced on Monday as Wall Street rallied after a deal was announced to reopen the U.S. government following a prolonged shutdown that had shaken investor sentiment.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.2 percent.South Korea’s KOSPI edged up 0.2 percent, New Zealand stocks were up a touch, while Japan’s Nikkei bucked the trends and eased 0.2 percent. Australian financial markets were shut for their ‘Australia Day’ holiday.
Facing mounting pressure, U.S. President Donald Trump agreed on Friday to temporarily end a 35-day-old partial U.S. government shutdown without getting the $5.7 billion he had demanded from Congress for a border wall.
In the currency market, the pound stood tall, hovering near a three-month high of $1.3218 set on Friday on the back of optimism that Britain can avoid a no-deal Brexit.
The euro was 0.05 percent higher at $1.1412 after gaining 0.9 percent on Friday, paring the losses from earlier last week on dovish-sounding comments by European Central Bank President Mario Draghi.
The dollar was slightly lower at 109.48 yen following mild losses at the end of last week.
The benchmark 10-year Treasury yield was little changed at 2.754 percent after popping up 4 basis points on Friday in the wake of surging U.S. shares.
U.S. crude oil futures were down 0.55 percent at $53.39 per barrel, losing some momentum after two sessions of gains.
Oil prices rose towards the end of last week as political turmoil in Venezuela threatened to tighten crude supply, with the United States signaling it may impose sanctions on exports from the South American nation.
Source : Reuters