Asian stock markets are trading mostly higher on Monday, despite the broadly negative cues from Wall Street on Friday, boosted by strong gains in China, Hong Kong and South Korea. Trades also reacted to the US Fed Chair Jerome Powell's recent somewhat hawkish comments, suggesting the Fed can take a careful approach to future monetary policy decisions and doesn't need to hurry to lower rates. Asian markets closed mixed on Friday.
Powell lauded the economy as "remarkably good", the labor market as "solid" and noted that inflation was "running much closer" to the bank's target.
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