Stocks in Asia-Pacific rose on Monday as investors continued to watch for coronavirus developments.
Markets in Japan were shuttered Monday for a holiday.
The Japanese yen traded at 103.75 per dollar after strengthening from levels above 104.4 against the greenback last week.
In Hong Kong, the Hang Seng index eked ahead 34.66 points, or 0.1%, to 26,486.20.
Meanwhile, shares of airlines in Hong Kong and Singapore slipped on Monday.
In Hong Kong, Cathay Pacific plunged 4.21% while China Eastern Airlines declined 1.15%. Over in Singapore, shares of Singapore Airlines dipped 0.49%.
The moves came after an anticipated air travel bubble between Singapore and Hong Kong was delayed for two weeks after Hong Kong saw a recent spike in coronavirus cases.
On the economic data front, Singapore’s economy contracted 5.8% in the third quarter, according to the country’s Ministry of Trade and Industry. The economy is now expected to contract by between 6% and 6.5% in 2020 compared to a year ago, and bounce back to growth in 2021, said the ministry.
Developments surrounding the coronavirus likely continued to weigh on investor sentiment. South Korea is set to impose stricter distancing regulations for the greater Seoul area and southwestern region in an attempt to stem a resurgence of the coronavirus, according to Yonhap.
Shares in South Korean markets flourished, with shares of industry heavyweight Samsung Electronics up 4.3%.
The Australian dollar changed hands at $0.7332 after turbulent trading last week that saw the currency above $0.732 and below $0.729.
In other markets
In Shanghai, the CSI 300 gained 61.74 points, or 1.3%, to 5,005.03.
In Korea, the Kospi index climbed 49.09 points, or 1.9%, to 2,602.59.
In Taiwan, the Taiex Index zoomed 161.57 points, or 1.2%, to 13,878.01.
In Singapore, the Straits Times Index moved higher 35.77 points, or 1.3%, to 2,848.78.
In New Zealand, the NZX 50 recovered 59.93 points, or 0.5%, to 12,501.74
In Australia, the ASX 200 regained 22.41 points, or 0.3%, to 6,561.69.
