Asian stocks close mostly higher after positive week on Wall Street

Asian stock markets closed mostly higher on Monday (16), after Wall Street ended the last week in a positive tone.

The South Korean Kospi index advanced 0.58% in Seoul, to 2,399.86 points, and the Taiex rose 0.69% in Taiwan, to 14,927.01 points. Hang Seng gained only marginally in Hong Kong, 0.04% to 21,746.72 points.

In mainland China, the Shanghai Composite rose 1.01%, to 3,227.59 points, and the less comprehensive Shenzhen Composite advanced 1.35%, to 2,094.99 points.

Last week, New York stock exchanges accumulated gains of 2% to almost 5%, after weaker inflation data reinforced expectations that the Federal Reserve (Fed, the US central bank) will moderate the pace of raising interest rates and as investors digested quarterly earnings from major US banks, including JPMorgan and Bank of America.

This Monday, US markets will not trade due to the Martin Luther King holiday.

In Tokyo, the Japanese stock exchange was the negative exception for the second consecutive session, amid fears that the Bank of Japan (BoJ) tightens its monetary policy in a meeting this week. The Nikkei index fell 1.14% to 25,822.32 points, pressured by financial stocks.

In Oceania, the Australian stock exchange followed the predominant tone of Asia, the S&P/ASX 200 advanced 0.82% in Sydney, at 7,388.20 points.