Stocks in China stocks rose, with material and energy companies pacing the markets, on anticipation that the U.S. will join Japan and Australia with actions to strengthen the economy after worse than expected jobs data was released on Friday.
Japanese markets were closed Monday for a national holiday.
On a side note -- The U.S. dollar slid to a 15-year low against the yen.
The Shanghai Composite closed up 68.20 points, or 2.49%, to 2,806.94.
Yanzhou Coal Mining Co. climbed 10% percent in Shanghai.
Jiangxi Copper Co., China’s biggest producer of copper, also climbed 10% on Monday.
The Hang Seng closed up; rising 263.13 points, or 1.15% to 23,207.31. This climb represents a more than 2-year peak, breaking through a trading range that has held since November 2009.
Cnooc Ltd., China’s largest offshore oil producer, rose 4.5% in Hong Kong after the Company announced that it will pay $1.08 billion for a one-third stake in Chesapeake Energy Corp.’s Eagle Ford shale project in Texas, in the biggest acquisition of a U.S. oil and gas asset by a Chinese company.
Elsewhere, the smaller markets had a mixed day:
South Korea's Kospi dropped .38% to 1,889.91.
Australia's S&P/ASX 200 closed up .344% to 4,697.500.
India's Sensex gained .44%.
Malaysia's Kuala Lumpur Composite Index climbed 6.00 points to 1,487.41.
Indonesia's Jakarta Composite Index climbed 1.79 points.
Shenzhen Composite gained .861% to 1,212.142.
Taiwan's Taiex slipped 67.43 points.
Singapore's Straits Times Index gained .32%.
New Zealand's NZX 50 closed up by .07%.
Philippine shares were down .429%.
Shares in Thailand rose 1.522%.
