Japan s Nikkei share average
rose on Monday, hitting 39,000 points for the first time in a
month, as higher expectations for U.S. interest rate cuts
continue to keep market sentiment upbeat. .
Gold prices touched a record high on Monday as recent economic data boosted bets for interest rate cuts by the U.S. Federal Reserve, while silver followed suit and surged to a more than 11-year high. Spot gold rose 1% to $2,438.41 per ounce, as of 0852 GMT, after hitting a record high of $2,449.89 earlier in the session. Data showed that U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend in a boost to expectations for a September interest rate cut.
Australian shares closed higher on
Monday, backed by commodity stocks reflecting soaring prices,
with casino operator Star emerging as the top benchmark gainer
after confirming a takeover approach.
Mainland China and Hong
Kong shares finished higher on Monday, on the back of gold and
non-ferrous metal stocks, with equity investors continuing to
digest Beijing s latest measures to rescue its.
London equities kicked off the week
on a positive note, helped by a rally among metal miners and
defence stocks, while investors await comments from the Bank of
England for hints on the central bank s.