Stock markets in Asia mostly rise on Monday, with Tokyo and Shanghai scoring fresh multi-year highs, as investors reacted to a rejuvenated dollar and news of further infrastructure projects in China.
"A stronger greenback has worked as a treat for Asian equities and seen the region get off to a positive start to the week. Gains for the greenback against the yen and Australian dollar have played a particularly big role [today]," wrote IG's Stan Shamu in a note.
However, risks regarding a potential Greek exit from the euro zone remained in the backdrop after the country's interior minister, Nikos Voutsis, threatened to default on loan repayments due to the International Monetary Fund on Sunday. The euro lost 0.4 percent to last trade at 1.0975 against the U.S. dollar.
Meanwhile, bourses in Hong Kong and South Korea are closed for public holidays. Beyond the region, the U.S., the U.K., Germany and France are shuttered as well.
Last week, U.S. equities failed to hold highs touched during Friday's session and eventually finished weaker after Federal Reserve chair Janet Yellen indicated that a rate hike would be appropriate this year if the economy improves. The Dow Jones Industrial Average and S&P 500 shed 0.3 and 0.2 percent, respectively, while the tech-heavy Nasdaq closed flat.