Shares were higher in Asia on Monday, led by gains in Chinese markets after regulators urged banks to support property projects to support the housing market.
U.S. futures advanced and oil prices jumped more than US$2 a barrel. Markets in Japan were closed for a holiday.
Troubled developer China Evergrande Group' s Hong Kong traded shares jumped 8.6%. Guangzhou R&F Properties soared 9% and Country Garden Holdings Co. gained 5.1%.New Zealand shares edged higher even after the government reported that inflation hit a 32-year high of 7.3% in the April-June quarter. It was 6.9% in the previous quarter.
Investors are awaiting a decision by the European Central Bank on Thursday on whether to raise interest rates for the first time in 11 years to curb inflation. Solid earnings from big companies and an encouraging report on consumer sentiment helped lift shares on Friday, but Wall Street benchmarks still ended the week lower.
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