- Asia-Pacific stocks rose on Monday, with Japan's Nikkei 225 jumping nearly 2%.
- The Hang Seng index rose 1.05% on Monday to close at 25,109.59. Last week, the Hong Kong index was more than 20% below its mid-February high as regulatory uncertainty clouded the outlook for Chinese technology companies.
- Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 3.1% to $67.2 per barrel. U.S. crude futures advanced 3.07% to $64.05 per barrel.
SINGAPORE — Stocks in Asia-Pacific rose on Monday trade as Hong Kong's Hang Seng index bounced back after slipping into a bear market last week.
Monday's gains for the Hang Seng came after heavy losses last week, with the index falling more than 20% below its mid-February high. Regulatory uncertainty in China has clouded the outlook for Chinese technology companies.
The Nikkei 225 in Japan rose 1.78% to close at 27,494.24 while the Topix index jumped 1.83% to end the trading day at 1,915.14.
South Korea's Kospi closed 0.97% higher at 3,090.21. Shares of LG Chem, however, plunged 11.14% after General Motors said Friday it was expanding its recall of Chevrolet Bolt EVs. The automaker said it found manufacturing defects in certain battery cells produced at LG manufacturing facilities.
In Australia, the S&P/ASX 200 edged 0.39% higher to close at 7,489.90.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.17%.
Monday's gains for Asia-Pacific stocks came after last week's losses. Investors have been concerned about the potential tapering by the U.S. Federal Reserve as well as the spread of the delta Covid-19 variant.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.224 after its recent climb from below 93.2.