Asian shares rose on Monday after a solid session on Wall Street, while the dollar held near recent highs against major rivals as investors bet that the U.S. Federal Reserve was on track to raise rates sooner rather than later.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2 percent, after Wall Street rallied on Friday, shrugging off growing expectations of tighter monetary policy.
Japan's Nikkei stock index .N225 slipped 0.5 percent.
U.S. stocks closed higher on Friday as fears of an interest-rate hike ebbed with the S&P 500 and the Nasdaq posting weekly gains, but the Dow Jones Industrial Average extended its losing streak for a fourth week.
The Dow Jones Industrial Average DJIA, +0.38% gained 65.54 points, or 0.4%, to finish at 17,500.94 but the index is down for a fourth week, shedding 0.2%.
Friday’s gains follow a day of losses on Thursday, when worries that the Fed could hike interest rates in June sent markets lower in both the U.S. and Europe. The S&P 500 index closed down 0.4%, turning negative for 2016, while the Dow average ended down 0.5%, and the Nasdaq Composite lost 0.6%.
Reference: Reuters, Market Watch
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