Asian stocks move upward as investor optimism defies evidence of pandemic’s impact
Asian shares were mostly higher Monday as bullish sentiment persisted despite continuing signs of economic damage from the pandemic.
- South Korea’s Kospi jumped 2.5% in early trading to 3,230.15.
- Australia’s S&P/ASX 200 lost 0.7% to 6,714.20.
- Hong Kong’s Hang Seng edged up 0.2% to 27,945.18, while the Shanghai Composite added 0.4% to 3,584.97.
- In currency trading, the U.S. dollar edged up to 104.17 Japanese yen from 103.95.
- The euro cost $1.2176, down from $1.2220.
- In energy trading, benchmark U.S. crude fell 25 cents to $51.99 a barrel in electronic trading on the New York Mercantile Exchange.
- It gained $1.41 to $52.24 per barrel on Friday.
- Brent crude, the international standard, shed 45 cents to $55.54 a barrel.