Japan’s Nikkei 225 rose 1.09 percent, while the Topix rose 1.38 percent. In Australia, the S&P/ASX 200 rose 1.78%. South Korea’s Kospi reversed earlier losses to trade 0.28% higher and the Kosdaq rose 0.36%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.41 percent. Elsewhere in the region, exchange-traded funds will be included in the stock link program linking Hong Kong with mainland China from Monday. In company news, Chinese property developer Shimao has missed paying interest and principal on a $1 billion offshore bond. Other real estate companies are also not paying interest or have defaulted on their debt. The US market is closed for a holiday on Monday. Looking ahead, the results of a private survey on China’s services activity are expected later this week, along with South Korean inflation data and several central bank decisions. Last week, on the first day of the second half of the year, European shares closed mixed, while sovereign markets rallied. The first half of 2022 was characterized by concern about inflation, rising interest rates and recession.

Coins and oil

The US dollar index, which tracks the greenback against a basket of peers, was at 104.995. The Japanese yen traded at 135.08 yen per dollar, strengthening from levels as weak as 137 per dollar last week. The Australian dollar was at $0.6820 after recovering from below $0.679 recently. Oil futures fell in Asian morning trade. U.S. crude futures were down 0.35% at $108.05 a barrel, while Brent crude futures were down 0.34% at $111.25.