China Stocks Lead Gains In Asia-Pacific; Yuan Weakens Against Dollar After Central Bank Move

Stocks in Asia-Pacific mostly advanced in Monday trade, as investors monitor the Chinese yuan’s movements.

Mainland Chinese stocks were among the biggest gainers regionally, with the Shanghai composite up 2.27% while the Shenzhen component jumped 2.386%. Hong Kong’s Hang Seng index also surged 2.03% as shares of Chinese banks listed in the city soared: China Construction Bank added 5.58%, ICBC was up 6.23% while Bank of China gained 4.18%. South Korea’s Kospi rose 0.46% as shares returned to trade following a Friday holiday. Meanwhile, shares in Australia were marginally higher, with the S&P/ASX 200 up 0.1%. In Japan, the Nikkei 225 bucked the trend and slipped 0.36% while the Topix index shed 0.45%. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.94%.