Asian Markets Start Higher

Asian markets started higher Monday following a strong finish for Wall Street last week Friday.

The Nikkei gained 1.3%. The Shanghai Composite and the Hang Seng both edged up 0.2% each. The Sensex gained 1.4% and the All Ordinaries was up 0.4%.

The yen weakened again versus the dollar, helping shares of exporters.

Over the weekend, Iran struck a nuclear deal with world powers, lessening political risk, and which also helped sentiment.

Stocks on the Move

Sony was marginally lower but Panasonic surged 3.3% while Pioneer Corp. shot up 7.7%.

In autos, Toyota was up 1.3% while Mazda accelerated 2.8%.

Advantest gained 2.9% while Softbank Corp. extended Friday’s gains, adding 4.1% after Third Point LLC head Daniel Loeb disclosed to a financial conference that his fund held a roughly $1 billion stake in the Japanese telecom.

Some oil shares shrugged off early declines following the deal with Iran. CNOOC edged up 0.3%, but Sinopec was 2.1% lower. PetroChina was down 0.9%. Sinopec was also weighed by an explosion of an oil pipeline in eastern China that killed 52 people, according to state media.

In Mumbai, the top gainer was ICICI Bank, up 3.7%, followed by Tata Motors and Hero MotoCorp, up 2.5% each, respectively.

L&T, ONGC, HDFC Bank, and SBI also gained over 2% each.

In Sydney, James Hardie Industries gained 1.6%. Index leader BHP Billiton edged up 0.2%.