Asian Shares Mostly Higher As Fed Taper Worries Fade

(RTTNews) - Asian stocks ended broadly higher on Monday as weak U.S. hiring in August fueled expectations the Federal Reserve would not rush in tapering its asset buying plans in the September meeting.

Chinese and Hong Kong shares advanced as investors awaited cues from China's trade and inflation data due out later in the week.

The benchmark Shanghai Composite index rallied 40.12 points, or 1.12 percent, to 3,621.86 while Hong Kong's Hang Seng index rose 261.64 points, or 1.01 percent, to finish at 26,163.63.

Japanese shares posted strong gains on optimism over the planned exit of Prime Minister Yoshihide Suga. Investors are expecting Suga's successor to "push for speedier and more active spending" of stimulus money.

The Nikkei average climbed 531.78 points, or 1.83 percent, to 29,659.89, marking its highest level since April 19. The broader Topix index closed 1.28 percent higher at 2,041.22, a 31-year high.
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