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Asian Stocks Climb as Tech Shares Rise, Chinese Equities Gain

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Milagros Lester
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Asia s benchmark stock index rebounded from four weeks of losses as Chinese and Taiwanese shares gained while Japanese equities pared a steep loss.The MSCI Asia Pacific Index rose 0.4 percent to 126.10 as of 4:16 p.m. in Tokyo, swinging from a drop of as much as 0.6 percent.

The regional index began 2016 with a 14 percent slump through a February low on concern a devaluation of the Chinese yuan would curb global growth and amid prospects for a Federal Reserve rate increase.

It then rallied almost 20 percent through this year s peak in April before retreating again, with the gauge dropping 19 percent in the last four weeks.

Hong Kong s Hang Seng Index was little changed.The Topix pared losses of as much as 1.8 percent while the yen gained 0.4 percent against the dollar on Monday to trade at 109.74.

Exports from Japan fell for a seventh consecutive month in April as the yen strengthened, underscoring the mounting challenges to Prime Minister Shinzo Abe s efforts to revive economic growth.

Fed worries are coming back into focus and this could mean more uncertainty around the U.S. dollar, the yuan and commodity prices.

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Milagros Lester
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