Asia Major economies registered a rise from the previous week

The stocks in Asia-Pacific soared on Monday, with Hong Kong's Hang Seng index rebounding from a bear market last week. The Hang Seng index had risen 1.80% by Monday afternoon in Hong Kong, after shares of Chinese tech giant Tencent registered a rise of about 3% and Hong Kong Exchanges & Clearing had risen nearly 5.9%. As regulatory uncertainty clouded the future for Chinese technology businesses, the Hang Seng index plummeted by over 19.9% last week, putting it more than 20% below its mid-February peak. Mainland Chinese equities registered an increase as well, with the Shanghai index soaring by about 1% and the Shenzhen component increasing by more than 1.43%. In Japan, the Nikkei 225 index registered an increase of 1.82%, while the Topix index soared by about 1.9%.

The Kospi Index of South Korea increased by 1.52%. LG Chem's stock, on the other hand, has dropped by about 10%. After discovering flaws in the manufacturing of some battery cells made at LG manufacturing sites, General Motors stated that it was widening its recall of Chevrolet Bolt EVs. The S&P/ASX 200 index soared 0.29% in Australia. Outside of Japan, MSCI's index of Asia-Pacific stocks climbed 1.49%. The advances in Asia-Pacific markets on Monday were followed by huge losses in the previous week. Growing concerns about the US Federal Reserve's probable tapering accompanied by the delta COVID-19 variant continues to haunt the investor mood.

The international Brent crude futures registered an increase of 1.73% to USD 66.31 per barrel under Asia trading hours, which states that oil prices were higher. Crude oil futures in the United States soared about 1.71% to USD 63.20 a barrel. After a recent increase from below 93.2, the US dollar index, monitoring the greenback against a basket of its peers, was found at about 93.313. The Japanese yen was registered trading at 109.86 per dollar, which is up from last week.