BEIJING: Shanghai shares began the new year the same way they ended 2014, surging almost four percent Monday, while the euro touched an almost nine-year low against the dollar on expectations of fresh European Central Bank stimulus.
Oil prices extended losses to sit at five-and-a-half-year lows due to signs of further weakening in the euro-zone economy, with both contracts falling towards $50 a barrel.
Shanghai surged 3.58 percent, or 115.84 points, to 3,350.52 in its first trading day of the year, its highest since August 2009, after tacking on more than 50 percent in 2014.
Tokyo eased 0.24 percent, or 42.06 points to end at 17,408.71, Seoul closed 0.55 percent lower, or 10.69 points, at 1,915.75, and Sydney added 0.26 percent, or 14.4 points, to 5,450.3.
Hong Kong slipped 0.57 percent, or 136.50 points, to 23,721.32.
Chinese investors continue to pour into the market on expectations the government will announce fresh measures to kick start the economy after more disappointing manufacturing data last week.
“The bull market is continuing with funds rotating to big developers and transport companies,” Wei Wei, an analyst at West China Securities Co, told Bloomberg News. “Liquidity is still good and funds are looking for bargains in the large-cap sector.”
