Sat, 27 Feb 2021

SYDNEY, NSW, Australia - Stocks hit the floor running on Monday in a positive start to the new week.

Futures trading in the U.S. market were in positive territory as lawmakers prepared to pass a bill supporting President Joe Biden's proposed $1.9 trillion stimulus package.

"U.S. markets moved irregularly last week but investors were relieved this morning after seeing the rise in U.S. futures," Masahiro Ichikawa, chief market strategist, Sumitomo Mitsui DS Asset Management told Reuters Thomson Monday.

In Hong Kong, the Hang Seng rallied 711.16 points or 2.41 percent to 30,159.01.

The Shanghai Composite in China gained 17.49 points or 0.48 percent to 3,624.24.

In Japan, the Nikkei 225 finished the day with a 190.84 points or 0.67 percent gain at 28,822.29.

The Australian All Ordinaries gained 32.50 points or 0.46 percent to 7,111.40, an eleven-month high.

The U.S. dollar opened the week with more losses in the Asian time zone Monday. The euro firmed to 1.2179. The British pound edged up to 1.3714. The Japanese yen was a fraction stronger at 103.71. The Swiss franc inched up to 0.8851.

The Canadian dollar rose to 1.2691. The Australian dollar strengthened to 0.7741. The New Zealand dollar rose to 0.7211.

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