Hong Kong Stocks Open The Week Strongly

Hong Kong shares finished sharply higher on Monday, in line with a rally across Asia following a record lead from Wall Street.

The Hang Seng Index added 1.7 percent, to 25,551.

On the mainland, the Shanghai Composite Index put on 0.2 percent, to 3,385 while the Shenzhen Composite Index climbed 1.3 percent, to 2,278.

Tokyo added 0.3 percent. Seoul piled on more than 1 percent while Sydney and Taipei each gained 0.3 percent.

Mumbai, Singapore, Wellington and Bangkok were also in positive territory.

Investors will also be keeping an eye on this week's virtual gathering of central bankers, hoping for some guidance on their plans for monetary policy after they provided a wall of cash to support the global economy – and stock markets – during the crisis.

The main attraction is a speech by the US Federal Reserve chief Jerome Powell that is slated to take place on Thursday.

"More clarity will no doubt be sought via this week's Jackson Hole symposium," said Ben Emons, of Medley Global Advisors.

"Meanwhile, we expect the enforcement meeting to proceed smoothly within the next several weeks," he said in reference to a review of the China-US trade pact.

Traders are also keeping tabs on Washington, where US lawmakers are struggling to reach an agreement on a fresh stimulus for the US economy. (AFP)