Economic news

Asian stocks continue global rebound

Asian stocks advanced on Monday, extending a global rebound for equity markets as stocks post positive returns after a recent sharp sell-off that stemmed from concerns over rising inflation and higher borrowing costs.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares jumped 0.5 percent.

Japan’s Nikkei soared 1.3 percent, while the Topix index leaped 2.2 percent.

Australian shares rose 0.6 percent and South Korea's Kospi index gained 0.7 percent.

Trading is expected to be thin than usual due to the Lunar New Year holiday in China and Presidents’ Day in the U.S.

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