The Australian and New Zealand dollars rose Monday on the recovery of risk appetite.
New Zealand is expecting more heavy rainfall as residents assess the damage from a weekend deluge.At least 90 homes in the Tasman district experienced some flooding,and swells of up to four metres were noted at Astrolabe Reef in the Bay of Plenty.
There was also concern that a cargo of plastic beads was spreading over beaches after a shipping container aboard the shipwreck Rena was damaged by the storm.
India's Nifty Fifty index rose 0.55% Monday with most sectors showing strength,except for the IT sector that was dragging the market down a bit.Reliance was up 0.99% and Bharat Petroleum climbed 0.90%.
The MSCI Asia Pacific index rose 0.6% ,led by consumer and telecoms shares.Asian stocks were up generally Monday on Japanese exporters rallying because of the weak yen,as the G20 developed nations didn't object to Japan's policy stimulus.The G20 feel that the Bank of Japan's plan to buy seven trillion yen,or 70.02 billion dollars,of bonds per week will boost both the Japanese recovery and the global economy,according to Rajiv Biswas,chief economist for the Asia Pacific at IHS Global Insight.
The Nikkei 225 index rose 2.00%,while the ASX 200 gained 0.49%.Gold surged 1.78% to 1420.40 an ounce as hedge funds found it to be a bargain after last week's collapse.
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