Asian Stocks Advance

Asian stocks closed mostly positive Monday after Wall Street hit a new high. Investors were looking ahead to U.S. earnings reports.

The Nikkei 225 in Tokyo surged 2.2% to 28,569.02 and the Hang Seng in Hong Kong gained 0.6% to 27,515.24.

Japan reported an 8% surge in core machinery orders for May.

The Shanghai Composite Index rose 0.7% to 3,547.84 after China’s central bank reduced the level of reserves commercial banks must hold, freeing up money for lending. That followed signs China’s economic rebound might be weakening.

The People’s Bank of China was cutting reserve requirements for banks by a half-point, unleashing 1 trillion yuan ($150 billion) into the world’s number-two economy.

The Kospi in Seoul advanced 0.9% to 3,246.47

Sydney’s S&P-ASX 200 rose 0.8% to 7,333.50.

India’s Sensex lost 0.2% to 52,282.88.

New Zealand also advanced.