TOKYO (AP) – Asian shares were mostly higher Monday, cheered by upbeat signs from Wall Street, a strengthening U.S. dollar and promises from the Group of 20 nations over the weekend to support global growth.
KEEPING SCORE: Japan’s benchmark Nikkei 225 edged up 0.8 percent in early trading to 16,759.80. South Korea’s Kospi rose 0.3 percent to 2,017.23. Hong Kong’s Hang Seng added 0.5 percent to 22,071.77, while the Shanghai Composite was little changed, inching down nearly 0.1 percent to 3,010.47. Australia’s S&P/ASX 200 gained 0.6 percent to 5,529.20.
GLOBAL MEETING: Envoys of the Group of 20 major economies, meeting in China, promised Sunday to protect the world economy from the shockwaves of Britain’s European Union referendum and to boost sluggish growth, while rejecting trade protectionism. That’s helping ease some investor worries.
WALL STREET: The Standard & Poor’s 500 index rose 9.86 points, or 0.5 percent, to 2,175.03 on Friday. It surpassed its prior record set Wednesday. The Dow Jones industrial average rose 53.62 points, or 0.3 percent, to 18,570.85. The Nasdaq composite rose 26.26, or 0.5 percent, to 5,100.16. The gains sent all three indexes to their fourth consecutive winning week, their longest streak since March.
CENTRAL BANKS: The Bank of Japan and Federal Reserve are both holding policy meetings this week. Record-low interest rates and big stimulus programs from central banks have pushed stocks higher since the financial crisis.