Asian stocks rallied on Monday, the dollar edged lower and U.S. Treasury yields fell amid signs that U.S. inflation may have peaked. China's easing of COVID-19 curbs also boosted sentiment ahead of a meeting of European Union countries to agree on Russian oil import sanctions.
China's Shanghai Composite index rose 0.6 percent to 3,149.06 as fewer COVID cases in Beijing and Shanghai led to easing of some restrictions. Risk appetite was also supported by stimulus measures announced by Shanghai authorities to support the economy. Hong Kong's Hang Seng index jumped 2.06 percent to close at 21,123.93.
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