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Asia Stocks Gain Solidly

Stocks the other side of the International Date Line were uniformly positive Monday morning, as developments on the coronavirus pandemic continue to be watched by investors.

In Japan, the Nikkei 225 gained 65.21 points, or 0.3%, to 22,985.51.

The Japanese yen traded at 105.82 per dollar after strengthening from levels above 106 against the greenback in the previous trading week.

In Hong Kong, the Hang Seng zoomed 437.74 points, or 1.7%, to 25,551.58.

Meanwhile, U.S. President Donald Trump’s administration is considering fast tracking an experimental coronavirus vaccine developed in the U.K. for use stateside ahead of the nation’s upcoming presidential election, according to a Financial Times report.

The Australian dollar changed hands at $0.7176 following a decline last week from above $0.724.

CHINA

The CSI 300 climbed 37.01 points, or 0.8%, to 4,755.85.

The ChiNext rose 2.25% to close at about 3,028.86. The first batch of firms listing on the NASDAQ-style board under its revised IPO system made their debut on Monday and saw staggering gains. Contec Medical Systems jumped more than 1,000% on the day while Ningbo KBE Electrical Technology surged more than 740%.

Under the new listing system, stocks on the ChiNext will be allowed to trade freely in the first five days from their debut. Following which, new regulations will allow stocks on the board to gain or lose up to 20% in a session, as compared with 10% previously.

In other markets

In Singapore, the Straits Times Index took on 10.07 points, or 0.4%, to 2.538.61.

In Korea, the Kospi picked up 25.24 points, or 1.1%, to 2,329.83

In Taiwan, the Taiex index added 39.29 points, or 0.3%, to 12,647.13

In New Zealand, the NZX 50 jumped 85.13 points, or 0.7%, to 11,921.07

In Australia, the ASX 200 recovered 18.39 points, or 0.3%, to 6,129.57.