Asia Rises, Australia Suffers Multiple COVID Cases

Shares in Asia-Pacific mostly rose on Monday trade, with Australian stocks recovering from an earlier slip as COVID cases in the country spike.

The Nikkei 225 regained 148.15 points, or 0.4%, to 27,789.29. The Japanese yen traded at 109.84 per U.S. dollar, weaker than levels below 109.5 seen against the greenback last week

In Hong Kong, the Hang Seng Index hiked 131.65 points, or 0.5%, to 25,539.54.

Shares of Meituan in Hong Kong rose 1.5% on Monday ahead of the earnings release. Other Chinese tech shares in Hong Kong were mixed: Tencent slipped 0.1% while Alibaba gained 1.5%.

Australian markets moved up, despite news that the country’s most populous state New South Wales had reported on Monday a record one-day rise in new COVID-19 infections.

The Australian dollar changed hands at $0.7302, having climbed last week from below $0.72.

CHINA

In Shanghai, the CSI 300 dropped 13.72 points, or 0.3%, to 4,813.27.

Investors in the region looked ahead to the release of earnings from Chinese food delivery giant Meituan on Monday.

In other Chinese tech developments, Beijing is reportedly looking at new rules that would restrict domestic internet firms from going public
in the U.S., according to the Wall Street Journal.

In other markets

In Korea, the Kospi index picked up 10.29 points, or 0.3%, to 3,144.19

In Singapore, the Straits Times recovered 21.34 points, or 0.7%, to 3,102.11

In Taiwan, the Taiex index triumphed 186.59 points, or 1.1%, to 17,396.52

In New Zealand, the NZX 50 zoomed 120.79 points, or 0.9%, to 13,180.57.

In Australia, the ASX 200 moved upward 16.25 points, or 0.2%, at 7,504.54