Investing.com - APAC shares were trading in positive territory on Monday, following the Nasdaq's continued rally, which saw the tech-centric index finish the week up by 2%.
By 11:15 am AEDT (12:15 am GMT) the S&P/ASX 200, KOSPI 200 and Nikkei 225 were up by 0.1%, 1.2% and 0.6% respectively.
The US stock market began the month on a bullish note, with the NASDAQ Composite reaching a new all-time high, gaining 1% to close at 16275, and recording a weekly rise of 2%. The S&P 500 also notched up a record high, gaining 0.8% to reach 5137 and posting a weekly increase of 1%. Meanwhile, the DJIA rose 0.2% to 39087.
Notable market movers included Dell Technologies Inc (NYSE:DELL), whose shares surged by 32% following better-than-expected fourth-quarter results.
In the commodities market, Brent crude oil advanced 2.0% to US$83.55 a barrel, and gold saw a 1.9% rise to US$2,082.92. In local bond markets, Australian 2-year yields increased to 3.80%, while the 10-year yield remained unchanged at 4.14%. US Treasury notes dipped, with the 2-year yield at 4.53% and the 10-year yield at 4.18%.
The Australian dollar was trading at 65.25 US cents.
In Asia, Chinese shares closed higher on Friday, with investors anticipating more stimulus measures to be announced in major political meetings next week. HSBC analysts predict that authorities will adopt a proactive fiscal stance, providing a more tangible plan to support the market.
European stocks rallied, with the pan-European Stoxx Europe 600 index up 0.6% at 497.58, buoyed by data indicating a slowdown in eurozone inflation and weaker-than-expected U.S. ISM manufacturing figures. These data sets heighten the likelihood of interest rate cuts by the European Central Bank and Federal Reserve in the coming months.