Asian stocks rise after Wall Street rally

Asian stocks were broadly higher on Friday after Wall Street rebounded. Asia-Pacific stocks were broadly higher on Monday after Wall Street snapped a four-day losing streak on Friday. The Nikkei 225 fell 0.66 percent and the Topix fell 0.22 percent, despite the services sector seeing record growth in April, the au Jibun Bank Japan services purchasing index showed. Minutes of Japan’s monetary policy meeting in March showed that governing council members are concerned about inflation accelerating at a faster-than-expected pace. The Shanghai Composite Index led gains in the region, rising 1.9 percent, while the Shenzhen Component Index rose 0.3 percent. Australia’s S&P/ASX 200 rose 0.69 percent, led by financials and miners. South Korea’s Kospi rose 0.84 percent and the Kosdaq rose 0.21 percent. Hong Kong's Hang Seng index rose 0.8 percent, boosted by energy and healthcare stocks.