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Asian stocks track commodities higher Dhwani Mehta

The stocks on the Asian bourses had a negative start to a brand new week this Monday, following Australian political uncertainty and a flattish close on the Wall Street last Friday. However, early losses were quickly shrugged and the equities turned into positive territory, largely driven by strong gains seen across the commodities space.Gold miners combined with resource and energy stocks are benefiting the most from a renewed rally in precious metals and copper prices. Silver surpassed $20 an ounce for the first time in almost two years and gold climbed for a fourth day. Nickel jumped as much as 6% in Shanghai, while copper gained for a sixth day in London and Brent held above $50 mark.China stocks lead Asian advanceThe Japanese benchmark index, the Nikkei 225 jumps 0.44% to 15,751, finding support from stronger USD/JPY, up 0.20% on the day. The Australian markets also follow suit amid election uncertainty, with the ASX 200 index rising 0.25% to 5,259 points.The Chinese equities drive the Asian rebound, with the benchmark Shanghai Composite index advancing 1.22% well above 2,900 levels; the CSI300 index also gains 0.90%. While Hong Kong markets jump 1.55% above 21,100 points.



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