Stocks in Asia Pacific rose in morning trade on Monday, with the Bank of Japan due to kick off its monetary policy meeting.
In Japan, the Nikkei 225 rose 1.77% as shares of robot maker Fanuc soared more than 10% following the release of the firm's financial results for the year ended March 2020. The Topix index also advanced 0.85%.
The Japanese central bank begins its monetary policy meeting on Monday, as investors watch for policy moves from the central bank to grapple with the economic impact of the ongoing coronavirus pandemic.
Mainland Chinese stocks were under pressure in early trade, with the Shanghai composite fractionally lower while the Shenzhen composite shed 0.408%.
Over in South Korea, the Kospi added 1.14%. Australia's S&P/ASX 200 also edged 0.32% higher.
Overall, the MSCI Asia ex-Japan index traded 0.91% higher.
Oil prices plummet
Oil prices were also watched following recent volatility as concerns rose over weak demand as a result of the economic hit from the global coronavirus outbreak.
In the morning of Asian hours on Monday, international benchmark Brent crude futures shed earlier gains as they fell 1.87% to $21.04 per barrel. U.S. crude futures dropped further, declining 8.44% to $15.51 per barrel.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 100.203 after seeing levels below 100 last week.
The Japanese yen traded at 107.57 per dollar after seeing volatility last week as it swung between levels above 107.8 and below 107.4. The Australian dollar changed hands at $0.6431 after seeing levels below $0.63 last week.
What's on tap for Monday:
- Japan: Bank of Japan monetary policy meeting
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April 27, 2020 at 08:51AM
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Asia stocks rise as Bank of Japan meets; oil prices drop - CNBC
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