Asian stocks rise on trader optimism

Hong Kong, Singapore, Wellington and Taipei all gained, while Seoul piled on more than 1% to a record as investors cheered a thawing of ties between South Korea and China

Most stocks rose in Asian trade on Monday after a busy last week.

Hong Kong, Singapore, Wellington and Taipei all gained, while Seoul piled on more than 1% to a record as investors cheered a thawing of ties between South Korea and China.

There were losses in Shanghai, Sydney and Manila. Tokyo was closed for a holiday.

Oil prices edged up after the Opec+ alliance said it would lift output again in December but would pause production in the first three months of 2026.

Gold prices hovered around $4,000 after China said it was scrapping a tax incentive on buying the commodity.

Investors returned from the weekend in relatively good spirits after an upbeat end to October that saw China-U.S. tensions ease, a U.S. central bank interest rate cut and healthy earnings from companies such as Amazon.

Traders are also hoping for key U.S. jobs data to be released later in the week, though the ongoing government shutdown – with Democrats and Republicans no closer to a reopening deal – could cause them to be suspended again.

While the government closure has not had any major impact on markets, analysts warned it could begin to affect Americans.

The shutdown could soon feasibly become the longest on record, though markets remain largely unperturbed, wrote Chris Weston at Pepperstone.

Public frustration is expected to build this week as (food) benefits for lower-income families are paused, and disruptions increase for domestic travel. New enrolments for Americans seeking access to Affordable Care Act plans may also become increasingly problematic, he said.

After April’s plunge sparked by U.S. President Donald Trump’s trade tariffs blitz, world markets have surged with stock market’s three main indexes and several others hitting record highs.