Economic news

Asian shares advance, led by financial stocks

Asian stocks rose on Monday as tensions in the Korean Peninsula weakened and ongoing earnings season supported the sentiment, although some traders remained cautious about the global economic growth.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares jumped 0.9 percent after rising more than 1 percent in the previous session.

South Korea's KOSPI index inched up 0.6 percent, poised to end April almost 2.5 percent higher.

Hong Kong's Hang Seng index soared 1.6 percent, Australia's S&P/ASX 200 was up 0.5 percent.

Activity was low on Monday with Japan, China and India shut for holidays.

Investors will shift their focus to a flurry of figures from the United States this week including personal consumption expenditures, the Fed’s policy decision on Wednesday, and an employment report on Friday.

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