The Nikkei gained 1.1%, the Hang Seng Index tweaked ahead 0.7% and the Australian S&P/ASX 200 was up 0.2%. U.S. oil rallied overnight to a three-month high, helping energy shares elsewhere. New Zealand cut interest rates, an unexpected move that buoyed shares there 0.5%. The Reserve Bank of New Zealand cut rates 25 basis points to 2.25% and left the door open for more cuts. The moved pushed the New Zealand dollar lower.
Many of the pundits don't like to hear it, there's a currency war going on and it will be a real surprise if the ECB later this week doesn't do its part to expand it.
In a mostly expected move South Korea left its benchmark interest rate unchanged, pushing the won down slightly. The Shanghai Composite Index settled down 0.7% as meeting there continue to be watched closely by investors Though some say the government might give sticks a boost soon by buying shares.
Two upcoming central bank meetings--the ECB and the Federal Reserve--still hang over markets as investors remain cautious.
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