Asian shares scale 3 month peak
Asian shares advanced to three-month highs on Monday as progress on re-opening economies helped offset jitters over riots in U.S. cities and unease over Washington’s power struggle with Beijing.
- Hong Kong managed to rally 3.3%, while Chinese blue chips put on 2.54%.
- In afternoon trade, the dollar was 0.3% softer on a basket of peers at 97.923 having touched an 11-week low of 97.944 on Friday.
- It was also down on the yen at 107.50.
- Much of the dollar’s recent decline has come against the euro which has been broadly boosted by plans for an EU stimulus package.
- The single currency was last up at $1.1143, after climbing 1.8% last week.
- In commodity markets, gold added 0.91% to $1,742 an ounce.
- Brent crude futures were off 37 cents at $37.70 a barrel, while U.S. crude fell 31 cents to $35.38.