Investing.com - Asian shares rose on Monday lifted by hopes of generally easier global monetary policy that would underpin liquidity for share markets.
The Nikkei 225 rose 1.39%, while the S&P/ASX 200 gained 1.81% and the Shanghai Composite showed a 1.03% increase, building on morning gains.
Earlier in Japan, the December trade balance came in at a surplus of ¥140 billion, beating a surplus of ¥100 billion seen. Exports fell 8.0%, more than the drop of 6.8% expected, while imports fell 18.0%, more than the 16.4% drop seen.
In the week ahead, investors will be looking to Wednesday’s Fed policy statement for any indication that the bank is considering slowing the path of interest rate increases this year.
A major snowstorm that hit the U.S. East Coast over the weekend may lead to a delay in the release of some data with the federal government expected to be shut on Monday as Washington digs out from the snow.
Last week, U.S. stocks capped their first positive week of the year with a stellar session on Friday, as crude futures surged by more than $2 a barrel, providing some reassurance for investors that a prolonged oil rout may be nearing its conclusion.
On Friday, crude futures settled above $32 a barrel after surging by more than 8% on the session. The bounce off near 12-year lows took place amid heavy short covering from traders, as prominent energy officials from OPEC members such as Saudi Arabia and Venezuela offered strong hints that the global economy may be unable to absorb oil prices at their current level.
The Dow Jones Industrial Average added 210.83 or 1.33% to close at 16,093.51, while the NASDAQ Composite index surged 119.12 or 2.66% to 4,591.18, as Apple Inc (O:O:AAPL) provided a boost to both indices.
Despite Friday's rally, the Dow remains down by more than 7% on the new year while the NASDAQ has fallen approximately 11% over the last six months. The S&P 500 Composite index, meanwhile, gained 37.91 or 2.03% to 1,906.90, as all 10 sectors closed in the green. Stocks in the Energy, Telecommunications and Technology industries led, each rising by more than 2%.