The WSJ reports "Asian markets were mostly higher on Monday, with banks giving a boost to Shanghai, while Australia continued to be weighed down by continued geopolitical concerns.
The Shanghai Composite rose 1.4% on a strong performance by banking stocks.Industrial and Commercial Bank of China 601398.SH +1.99% added 1.7% on its plans to raise as much as $12.9 billion of preferred shares. Upbeat economic data showing that China's industrial profits picked up in June also provided support.
In Hong Kong, the Hang Seng Index was up 0.6% and the Hang Seng China Enterprises Index rose 0.5%.
The Nikkei rose 0.5% as the dollar maintained the 0.5% gain it made against the yen last week. The dollar was little moved in Asia, at ¥101.81.
Elsewhere, South Korea's Kospi added 0.4% as the market extended gains after last week's government announcement of a stimulus package.
A number of markets were trading at their highest levels in years. Hong Kong and Australian stocks hit multiyear highs last week and Japan ended Friday at its highest level in six months. In particular, upbeat economic data from China has supported gains in stocks.
Australia's S&P/ASX 200 lost 0.2% after Wall Street fell on disappointing corporate earnings. Geopolitical tensions continued to weigh on sentiment, with the continuing turmoil in Ukraine and the breakdown of a cease-fire in Gaza over the weekend".
