Rising dollar helps Nikkei push past 20,000 mark again
Asia-Pacific stocks began the week mostly higher, buoyed by Friday's gains in the U.S., after solid jobs data there boosted the dollar and brightened overall market sentiment.
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Meanwhile, the Group of 20 meeting of world leaders made little impact on markets, as there was less discord than expected.
As the dollar pushed above Yen114 in Asian trading -- the pair reached levels not seen in two months -- Japanese stocks helped lead the way in morning action.
The Nikkei rose 0.8%, rising back above the 20,000 after closing at a three-week low on Friday. That helped Japan's exporters. Panasonic (6752.TO) rose 1.8%, Nintendo (7974.TO) climbed 3.7% and Tokyo Electron (8035.TO) added 2.3%.
Meanwhile, Australia's S&P/ASX 200 rebounded 0.4% after Friday's 1% decline. Hong Kong's Hang Seng Index ended up 0.6%, while the Shanghai Composite Index fell 0.2%.
Oil stocks, though, were lower in Australia and across the region after Friday's latest crude selloff -- stoked by a rebound in the U.S. dollar, which recorded its best week of 2017, according to the WSJ Dollar Index.
While oil rose nearly 1% in Asian trading, oil firms' shares fell. Japan Petroleum Exploration (1662.TO) fell 0.7% and Australia's Santos (SSLTY) slid 1.4%.
"Another strong rise in oil rig activity in the U.S. could see oil prices come under further downside pressure earlier this week," ANZ Research said.
Elsewhere -- and after U.S. Treasury yields rose Friday -- the Bank of Japan's end-of-week action kept domestic rates in check on Monday. The 10-year yield for Japanese government bonds was recently unchanged at 0.085%.
(END) Dow Jones Newswires
July 10, 2017 05:01 ET (09:01 GMT)