Stocks in Asia edged higher on Monday, as concerns over conflicts in Eastern Europe and the Middle East receded.
Asia was recovering from falls at the end of last week after a Malaysia airlines plane was shot down near the Russia-Ukraine border. News that Israel had invaded the Gaza Strip also weighed on sentiment on Friday, but the region managed to pare much of its losses by the end of the session. The shares were also helped Monday by a similar rebound on Wall Street at the end of last week.
Australia's S&P/ASX 200 added 0.3%, South Korea's Kospi rose by 0.4% and Singapore's Straits Times edged 0.1% higher.
The market in Asia that was hit the hardest was Japan's Nikkei, which lost 1% on Friday, but was closed for a public holiday on Monday. The yen didn't give up any of the strength it showed at the end of last week, with the dollar trading at Yen101.30--little changed from late Friday in New York.
In China, stocks were little moved. Hong Kong's Hang Seng Index rose less than 0.1% and the Shanghai Composite flat. The main economic event for China this week will be preliminary manufacturing data, scheduled to come out on Thursday.
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(END) Dow Jones Newswires
July 21, 2014 00:55 ET (04:55 GMT)
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