Asian stocks rise after Wall St breaks string of declines

Asian stocks rose Monday after Wall Street rebounded from a seven-week string of declines and China eased anti-virus curbs on business activity in Shanghai and Beijing, the Associated Press reported.
Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil stayed above $110 per barrel.
On Wall Street, the benchmark S&P 500 index finished Friday up 6.6% for its biggest weekly gain in 18 months after surging inflation declined in April. U.S. markets will be closed Monday for a holiday.
“Markets rallied into the long weekend, providing a positive tone at the start of this week,” ING economists said in a report.
The Shanghai Composite Index advanced 0.5% to 3,145.77 after more factories and shops in Beijing and Shanghai were allowed to reopen. Shanghai, China’s commercial capital, announced tax breaks and subsidies to help businesses recover from a two-month shutdown.
The Nikkei 225 in Tokyo surged 2.3% to 27,382.03 and the Hang Seng in Hong Kong gained 1.9% to 21,093.21. The Kospi in South Korea advanced 1.2% to 2,668.31.
Sydney’s S&P-ASX 200 was 1.4% higher at 7,2890.10.
India’s Sensex opened up 2.1% at 56,025.84. New Zealand and Singapore gained while Indonesia retreated.
On Wall Street, the S&P 500 rose 2.5% on Friday to 4,158.24, propelled by gains for tech companies.