Asia shares rise, boosted by Wall Street rally despite virus

Asian shares are rising as investor sentiment receives a big boost from the rally last week on Wall Street, despite worries about the more contagious coronavirus delta variant not only in the region but across the world

TOKYO -- Asian shares rose Monday as investor sentiment received a big boost from the rally last week on Wall Street, despite worries about the more contagious coronavirus delta variant not only in the region but across the world. Japan's benchmark Nikkei 225 rose 1.7% to 27,476.54 in morning trading. South Korea's Kospi jumped 1.3% to 3,101.19. Australia's S&P/ASX 200 edged up 0.3% to 7,483.60. Hong Kong's Hang Seng surged 2.4% to 25,441.00, while the Shanghai Composite added 1.1% to 3,465.35. “Asia markets are set for a steady open,” said Yeap Jun Rong, market strategist at IG in Singapore, adding that the central bank in South Korea may the first in the region to raise interest rates “amid growing inflationary pressures and a robust export-led economic recovery.” “That said, daily new COVID-19 cases are currently at its all-time high and that may dampen some hawkish sentiments going into the meeting.”