SINGAPORE – Shares in the Asia-Pacific have risen in monthly trading, with several markets in North Asia closing for the New Year holiday.
In Japan, the Nikkei 225 rose 1.5% while the Topix index rose 0.95%. Earlier in the session, the Nikkei rose above the 30,000 level for the first time in more than 30 years, according to data from Refinitiv.
The government’s data released on Monday showed that the economy in Japan grew by 12.7% between October and December last year. The preliminary reading for the fourth quarter’s gross domestic product, according to Reuters, was higher than the average estimate of economists of a 9.5% increase.
South Korea’s Kospi also made strong gains when it jumped 1.5%. Shares in Australia rose higher, with the S & P / ASX 200 up about 1%.
MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.6% higher.
Markets in China, Hong Kong, Taiwan as well as the US were closed on Monday for holidays.
Oil prices jump
Oil prices were higher in the afternoon of trading hours in Asia, with the international standard Brent crude futures contract up 1.79% to $ 63.55 a barrel. U.S. crude futures rose 2.25% to $ 60.81 a barrel.
The US dollar index, which follows the rate behind a basket of its peers, was at 90,319 after weakening from the 91.2 handle earlier this month.
The Japanese yen traded at 105.09 per dollar, weaker than levels below 104.8 against the dollar seen last week. The Australian dollar was at $ 0.7784 after rising last week from levels below $ 0.772.