Picture used for illustrative purpose. File
Gulf Today Report
Asian shares jumped on Monday following the passage of US stimulus bill increasing optimism for global economic recovery.
Shares in Taiwan, India and Thailand were higher, as upbeat Chinese exports data also underpinned risk appetite.
Higher US yields also kept the pressure on Asia's bond markets and valuations.
The US Senate passed the COVID-19 relief plan on Saturday and US President Joe Biden said he hoped for a quick passage of the revised bill by the House of Representatives.
Gold prices gain on US stimulus and lower yields
Indian shares jump due to gains in energy stocks
Oil declines following Saudi attack
On the other hand, the Philippine shares fell more than 1%, stocks in Indonesia and the rupiah dipped.
European stocks recorded gains on Monday as market focus on soaring oil prices.
London's benchmark FTSE 100 index climbed 0.6 per cent to 6,669.48 points, rebounding from modest losses on Friday. In the eurozone, Frankfurt's DAX 30 index gained 0.7 per cent to 14,019.37 points and the Paris CAC 40 rose 0.6 per cent to 5,818.56.
The European Central Bank convenes later in the week and is expected to look closely at possible price pressures as economies rebound on the easing of coronavirus restrictions.
The pan-European STOXX 600 index rose 0.5%, inching closer to a record peak set last year.
The pan-European STOXX 600 index fell 0.1% while in Asia, South Korea's Kospi jumped 2.5%.
As European countries impose fresh lockdowns, data shows the deteriorating situation of the economy.
International traffic climbed 48.0% versus April 2022 with all markets recording healthy growth, with carriers in the Asia-Pacific region continuing to lead the recovery. International RPKs reached 83.6% of April 2019 levels.
The International Air Transport Association (IATA) announced continued strong passenger traffic demand in April. Total traffic in April 2023 (measured in revenue passenger kilometers or RPKs)
Global additions of renewable power capacity are expected to jump by a third this year as growing policy momentum, higher fossil fuel prices and energy security