Major Asian markets closed higher on Monday, shrugging off Friday's global selloff sparked by the U.K.'s unexpected vote to leave the European Union (EU).
In Japan, the Nikkei 225 regained 357.19 points, or 2.4%, to 15,309.21. The index had tumbled 7.9% Friday on the back of fresh yen strength.
In Hong Kong, the Hang Seng Index dipped 31.83 points, or 0.2%, to 20,227.30
The Japanese yen traded against the dollar at 101.88 Monday, after briefly dipping below 100 on Friday as investors flocked to haven assets such as the yen and government bonds in the aftermath of the Brexit vote.
Japanese Prime Minister Shinzo Abe said on Monday he told Finance Minister Taro Aso to watch the currency markets carefully and take steps if necessary to stabilize the yen. Abe's comments came at an emergency meeting between the government and the Bank of Japan.
Major Japanese automakers were under pressure on Monday, with shares of Toyota closing down 1.7 percent, Nissan down 2.5%, Honda up 0.5% and Mazda down 9.7%
Companies with significant exposure to the U.K. remained under some pressure. In Australia, Henderson Group shares closed down 15.9% and Clydesdale Bank was off by 9.4%. Hong Kong-listed shares of British banks Standard Chartered and HSBC traded mixed, up 0.5% and down 1.2%, respectively. Espirit shares were down 2.3%.
Australian indices gained some dignity back, as shares of ANZ finished down 0.7%, Commonwealth Bank of Australia shares were up 0.3%, Westpac shares finished higher by 0.1% and NAB shares were off by 0.4%.
CHINA
The Shanghai CSI 300 recovered 43.78 points, or 1.4%, to 3,120.54
The People's Bank of China guided the yuan weaker against the U.S. dollar, with a mid-point fix at 6.6375; the on-shore yuan traded at 6.6380
In other markets
In Korea, the Kospi eked up 1.61 points, or 0.1%, to 1,926.85
In Singapore, the Straits Times Index dropped 5.54 points, or 0.2%, to 2,729.85
In Taiwan, the Taiex index doffed 18.12 points, or 0.2%, to 8,458.87
In New Zealand, the NZX 50 recouped 19.15 points, or 0.3%, to 6,686.93
The ASX 200 strengthened 24.05 points, or 0.5%, to 5,137.23
