Hong Kong--Tokyo stocks chalked up a 12th straight gain Monday, their best run in more than a quarter of a century, while Shanghai and Hong Kong rebounded as data indicated a pick-up in Chinese manufacturing.
The euro edged down as Greece's bailout reform talks plod on without agreement in sight despite this week's deadline to repay some debts -- fuelling fears of a default that could see it leave the eurozone.
Tokyo recovered from initial losses to end marginally higher, adding 6.72 points, at 20,569.87. The 12 days of gains marked the best rally since 1988 at the height of Japan's stock market bubble.
Shanghai, which plunged almost seven percent over Thursday and Friday, jumped 4.71 percent, or 216.99 points, to end at 4,828.74. Hong Kong added 0.63 percent, or 172.97 points, to 27,597.16.
But Sydney dropped 0.72 percent, or 41.8 points, to close at 5,735.4 and Seoul fell 0.59 percent, or 12.43 points, to 2,102.37.
Singapore, Wellington and Bangkok were closed for public holidays.
In Tokyo the Nikkei reversed initial losses caused by profit-taking as investors bet on the Bank of Japan announcing more monetary easing, while the yen sits around 12-year lows against the dollar.
On Monday the dollar was at 124.20 yen in Tokyo against 124.12 yen late Friday in New York. The greenback briefly touched 124.46 last Thursday, the highest level since December 2002.
"Today's (stocks) gain suggests that the market is seeing Japan's corporate performance as favourable," said Kenzaburo Suwa, strategist at Okasan Securities in Tokyo.
Japanese dealers brushed off Wall Street losses Friday after data showed the world's biggest economy shrank 0.7 percent in the first three months of the year as the country was hit by severely cold weather.
AFP
