Asian shares rose
on Monday as investors cheered China's latest cut to interest rates to
bolster its flagging economy and after Wall Street rallied on a robust
headline reading for U.S. employment.
But
European stocks were seen opening slightly lower on the day, with
lingering concerns over Greece's debt situation seen eclipsing the China
stimulus news.
Financial spreadbetters expected Britain's FTSE 100 .FTSE and Germany's DAX .GDAXI to open as much as 0.1 percent lower, while France's CAC 40 .FCHI was seen falling 0.6 percent.
Later on Monday, the Eurogroup of euro zone finance ministers will meet, and Greece's government was hopeful that they will note progress on Athens' talks with lenders.
The ministers have ruled out unlocking aid for Greece at the meeting, saying that too many issues with the debt-laden country remain unresolved.
"Greek-related
headlines have begun filtering out over the weekend, and the debt
negotiations will be one of this week's currency themes. Today's
Eurogroup meeting and its impact on the euro will be in focus," said
Shinichiro Kadota, chief Japan forex strategist at Barclays in Tokyo.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.4 percent, moving off a one-month low touched on Friday. Japan's Nikkei share average .N225 ended up 1.3 percent, also stepping away from last week's one-month low.
Chinese shares erased earlier losses and rallied. The CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen was up 2 percent, while the Shanghai Composite Index .SSEC was up 2.1 percent.
China cut interest rates for the third time in six months on Sunday, and analysts predicted policymakers would relax reserve requirements and cut rates again in the coming months.
The easing followed Chinese inflation figures on Saturday that added to concerns about deflationary pressures.
Financial spreadbetters expected Britain's FTSE 100 .FTSE and Germany's DAX .GDAXI to open as much as 0.1 percent lower, while France's CAC 40 .FCHI was seen falling 0.6 percent.
Later on Monday, the Eurogroup of euro zone finance ministers will meet, and Greece's government was hopeful that they will note progress on Athens' talks with lenders.
The ministers have ruled out unlocking aid for Greece at the meeting, saying that too many issues with the debt-laden country remain unresolved.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.4 percent, moving off a one-month low touched on Friday. Japan's Nikkei share average .N225 ended up 1.3 percent, also stepping away from last week's one-month low.
Chinese shares erased earlier losses and rallied. The CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen was up 2 percent, while the Shanghai Composite Index .SSEC was up 2.1 percent.
China cut interest rates for the third time in six months on Sunday, and analysts predicted policymakers would relax reserve requirements and cut rates again in the coming months.
The easing followed Chinese inflation figures on Saturday that added to concerns about deflationary pressures.
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