Tue, 20 Apr 2021

SYDNEY, NSW, Australia - Stocks in Asia were sharply higher on Monday, while profit-taking trimmed recent gains in the U.S. dollar.

The bond moves on Friday still feel like a pause for air, rather than the catalyst for a move towards calmer waters, Rodrigo Catril, a senior strategist at NAB told Reuters Thomson Monday.

Market participants remain nervous over the prospect of higher inflation as economies look to reopen aided by vaccine roll outs, high levels of savings along with solid fiscal and monetary support.

In Japan, the Nikkei 225 led the way with a major 697.49 points or 2.41 percent rise to 29,663.50.

The Australian All Ordinaries jumped 102.10 points or 1.47 percent to 7,042.70.

In Hong Kong, the Hang Seng accelerated 476.80 points or 1.65 percent to 29,457.01.

China's Shanghai Composite finished 44.32 points or 1.21 percent ahead at 3,551.40.

The euro put on a few points to trade around 1.2083 at the close in Sydney on Monday. The British pound edged up to 1.3981. The Japanese yen remained weak at 106.54, while the Swiss franc eased further to 0.9086.

The Canadian dollar inched up to 1.2702. The Australian dollar which took the brunt of the selling on Friday added a half-cent to Friday's New York close, to last trade at 0.7753. The New Zealand dollar rose to 0.7272.

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