Resilient Asian
stocks edged up to a two-year high on Monday, shaking off threats from
by a ransomware attack that locked some 200,000 computers in more than
150 countries at the weekend, a missile test by North Korea, and weak
U.S. data.
Oil
prices jumped after Saudi Arabia's energy minister and Russia's oil
minister said at a joint briefing in Beijing that they agreed output
cuts should be extended to March 2018.
U.S. crude surged 1.6 percent to $48.61 a barrel. Global benchmark Brent was also up 1.6 percent at $51.63.
European stocks are also set to extend Friday's gains, with financial spreadbetter CMC Markets expecting Britain's FTSE 100 and France's CAC 40 to open 0.1 percent higher, and Germany's DAX to start the day up 0.2 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent to its highest level since June 2015.
MSCI's emerging markets benchmark also advanced 0.3 percent to a two-year high.
Japan's Nikkei slipped 0.2 percent on a stronger yen.
The weekend cyber attack, which slowed down after a security researcher stumbled on a way to at least temporarily limit the worm's spread, was expected to speed up on Monday when employees returning to work turned on their computers.
But with little evidence of widespread disruption in the region on Monday, and governments and businesses taking precautions to contain the impact, investors appeared unalarmed, at least for now.
North Korea said on Monday it had successfully tested a newly developed mid-to-long range missile on Sunday aimed at verifying its capability to carry a "large scale heavy nuclear warhead." The missile landed in the sea 97 km (60 miles) south of Russia.
South Korea's military said it needs further analysis on the North's claim of technical advancement and that the possibility of the isolated nation mastering missile re-entry technology is low.
North Korea is believed to be developing an intercontinental ballistic missile (ICBM) capable of carrying a nuclear warhead and reaching the U.S. mainland.
The Korean won weakened, with the dollar up 0.15 percent at 1,124.30 won on Monday. South Korea's KOSPI climbed 0.1 percent.
U.S. crude surged 1.6 percent to $48.61 a barrel. Global benchmark Brent was also up 1.6 percent at $51.63.
European stocks are also set to extend Friday's gains, with financial spreadbetter CMC Markets expecting Britain's FTSE 100 and France's CAC 40 to open 0.1 percent higher, and Germany's DAX to start the day up 0.2 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent to its highest level since June 2015.
MSCI's emerging markets benchmark also advanced 0.3 percent to a two-year high.
Japan's Nikkei slipped 0.2 percent on a stronger yen.
The weekend cyber attack, which slowed down after a security researcher stumbled on a way to at least temporarily limit the worm's spread, was expected to speed up on Monday when employees returning to work turned on their computers.
But with little evidence of widespread disruption in the region on Monday, and governments and businesses taking precautions to contain the impact, investors appeared unalarmed, at least for now.
North Korea said on Monday it had successfully tested a newly developed mid-to-long range missile on Sunday aimed at verifying its capability to carry a "large scale heavy nuclear warhead." The missile landed in the sea 97 km (60 miles) south of Russia.
South Korea's military said it needs further analysis on the North's claim of technical advancement and that the possibility of the isolated nation mastering missile re-entry technology is low.
North Korea is believed to be developing an intercontinental ballistic missile (ICBM) capable of carrying a nuclear warhead and reaching the U.S. mainland.
The Korean won weakened, with the dollar up 0.15 percent at 1,124.30 won on Monday. South Korea's KOSPI climbed 0.1 percent.
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