Oil prices saw a rebound in Monday trade following a Friday drop as investors continue to watch for developments on U.S. President Donald Trump’s health after he tested positive for the coronavirus last week.
In Japan, the Nikkei 225 regained 282.24 points, or 1.2%, to 23,312.14.
The Japanese yen traded at 105.64 per U.S. dollar after strengthening sharply late last week to levels around 105 against the greenback.
The Hang Seng Index returned to trading in Hong Kong, after a long weekend, with a jump of 308.73 points, or 1.3%, to 23,767.78, with shares of HSBC soaring 4%.
Hong Kong-listed shares of Semiconductor Manufacturing International Corporation (SMIC), China’s largest chipmaker, fell 4.64% on Monday after the firm announced Sunday it has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security on export restrictions.
In September, shares of SMIC plunged after the U.S. government announced it was considering putting export restrictions on the company. Sanctions on the chipmaker hit at the heart of China’s tech ambitions at a time when tensions are rising between Beijing and Washington.
Shares of oil companies regionally were mixed. In Australia, Beach Energy rose 5.6% while Santos gained 4.7%. Japan’s Inpex jumped 4.3%. Over in Hong Kong, however, shares of PetroChina slipped 1.3% and CNOOC declined 1.2%.
Shares in Australia led gains among the region’s major markets, with the S&P/ASX 200 up 2.6% as shares of the country’s major banks surged: Australia and New Zealand Banking Group gained 4.2%, Commonwealth Bank of Australia added 3.6%, Westpac rose 4.4% and National Australia Bank soared 4%.
The Australian dollar changed hands at $0.7177 after its rise last week from levels below $0.707.
In corporate developments, New Zealand-listed shares of Fonterra Co-operative Group edged 0.3% higher on Monday after it announced an agreement to sell its China farms.
Investors likely continued to monitor developments surrounding Trump’s health, with questions surfacing after his doctors announced Sunday that they had begun treating him with dexamethasone, a steroid recommended for severe cases of COVID-19. Still, the U.S. president’s physician, Dr. Sean Conley, said Sunday that his condition has improved and may be discharged as soon as Monday.
In other markets
Markets in mainland China remained shuttered for holiday.
In Singapore, the Straits Times Index regained 21.12 points, or 0.2%, to 2,517.23.
In Korea, the Kospi came back Monday by gaining 30.11 points, or 1.3%, to 2,358.
In Taiwan, the Taiex index went back at it by adding 32.67 points, or 0.3%, to 12,548.28.
In New Zealand, the NZX 50 gained 75.42 points, or 0.6%, to 11,898.26.
In Australia, the ASX 200 rocketed 150.08 points, or 2.6%, to 5,941.58.
