Shares in Asia were higher on Monday, as investors reacted to Hong Kong’s district council elections amid months of civil unrest in the city.
In Japan, the Nikkei 225 jumped 179.73 points, or 0.8%, to end Monday at 23,292.81, with shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all seeing gains.
The Japanese yen traded at 108.87 against the U.S. dollar after seeing an earlier high of 108.62.
In Hong Kong, the Hang Seng Index galloped 397.96 points, or 1.5%, to 26,993.04, with shares of life insurer AIA surging 3.6%. The moves came after pro-democracy candidates surged to a landslide victory following a record voter turnout.
That comes following months of civil unrest that have rocked the city and periodically degenerated into violence.
One analyst said the development was a "stunning victory" for pro-democracy candidates.
In Australia, markets gained ground. Shares of Westpac, however, slipped 1.33%. The embattled lender announced its response plan over the weekend after Australia’s anti money-laundering and terrorism financing regulator last week filed for civil penalty orders against the firm, alleging its "oversight of the banking and designated services provided through its corresponding banking relationships was deficient."
Among the list of actions detailed in the response plan were the immediate closure of an international funds transfer system and bolstering its financial crime monitoring efforts.
The Australian dollar changed hands at $0.6793 after declining from highs above $0.682 in the previous trading week.
CHINA
In Shanghai, the CSI 300 regained 28.22 points, or 0.7%, to 3,878.21
On the U.S.-China trade front, a "phase two" trade deal between the two economic powerhouses is unlikely to come soon, media reports circulated Monday citing officials, law makers and trade experts.
That comes as Washington and Beijing have yet to strike a "phase one" agreement ahead of Dec. 15, when additional tariffs on Chinese exports to the U.S. are set to kick in.
In other markets
In Taiwan, the Taiex retreated 5.52 points, or 0.1%, to 11,561.58
In Korea, the Kospi moved higher 21.54 points, or 1%, to 2,123.50
In Singapore, the Straits Times Index dropped 5.02 points, or 0.2%, to 3,220.63
In New Zealand, the NZX recovered 7.37 points, or 0.1%, to 10,953.67
In Australia, the ASX 200 acquired 21.63 points, or 0.3%, to 6,731.41
