Asian stocks climb after Wall Street closes its record-setting week mixed

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Asian stocks are mostly higher, supported by key rate decisions last week from the U.S. Federal Reserve, Japan, and China. U.S. futures and oil prices were higher. Stock markets in Japan were closed on Monday for a public holiday. China’s central bank lowered its 14-day reverse repurchase rate to 1.85% from 1.

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The Hang Seng in Hong Kong gained 0.8% to 18,403.37 and the Shanghai Composite index added 0.7% to 2,755.89.Japan’s monetary policy remained in the spotlight after the Bank of Japan announced it would keep its benchmark rate unchanged at 0.25%. Elsewhere, Australia’s S&P/ASX 200 lost 0.5% to 8,170.50. The Reserve Bank of Australia begins a two-day policy meeting on Monday.On Friday, the S&P 500 slipped 0.2% from its record, closing at 5,702.55. The Nasdaq composite fell 0.4% 17,948.32. The Dow Jones Industrial Average, meanwhile, added 0.1% to close at another record high, at 42,063.36.

Last week, also, the Bank of England kept its main interest rate on hold at 5% in the wake of the Fed’s move.

 

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