HONG KONG (AP) – Asian markets gained more ground Monday as Japan's new $150 billion stimulus plan and upbeat news about Chinese bank lending boosted hopes for recovery in the region's major economies.
Trade was thinner than normal with many investors still away for a public holiday and several markets closed. A stronger dollar combined with Tokyo's latest measures helped exporters like Mazda and Nissan. Oil prices slipped to near $51 a barrel.
Chinese stocks led the region with Shanghai's main index climbing 2.8 percent to 2,513.70. South Korea's Kospi gained 2.22, or 0.2 percent, to 1,338.26 with car companies especially strong after the government announced almost $400 million in aid for the country's auto industry. Hyundai Motors added 2.2 percent.
Japan's Nikkei 225 stock average fluctuated throughout the day before closing down 39.68 points, or 0.4 percent, to 8,924.43, though the nation's auto giants were higher.
Eslewhere, Taiwan and Singapore stock measures were up 1-2 percent. Hong Kong, India, Thailand, New Zealand and Australia were closed for a public holiday Monday.
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