Most of Asian stocks closed higher as the Trump administration took steps towards tax cuts and Japan released positive macro-economic data.
The ASX 200 climbed by 1.1 percent closing at 5,744.70. Bank stocks were the main advancers. National Australia Bank climbed by 0.92 percent; ANZ added 1.08 percent; Westpac and Commonwealth Bank went higher by 1.25 and 1.49 percent respectively.
Hong Kong’s Hang Seng Index climbed up by 0.2 percent
Japanese shares closed mixed although the Bank of Japan’s quarterly business Tankan Survey showed improvement in the business confidence of big Japanese manufacturers. The Nikkei rose 0.1 percent closing at 20,374.36 in early trading. The Topix slid by 0.05 ending the session at 1,673.96.
The dollar started the week on a positive note, pushed by higher U.S. yields. In addition, the euro came under pressure as investors monitored the aftermath of the independence vote in Spain’s Catalonia.
The dollar index went higher by 0.3 percent against a basket of six major currencies and closed at 93.323. The Euro fell by 0.3 percent against the dollar and was trading at $1.1776