The MSCI Emerging Markets Currency Index added 0.7 percent to 1,498.89 at 1:09 p.m. in Hong Kong as Indonesia’s rupiah and Malaysia’s ringgit strengthened the most since March 30. A measure of developing-market stocks rose for a third day, topping its 50-day moving average. Equities in the Philippines, Thailand, Malaysia and Indonesia paced gains.
The MSCI Emerging Markets Currency Index gained for a third day, poised for the biggest advance since April 28.
The MSCI Emerging Markets Index rose 0.6 percent to 821.28, poised for the highest close since May 2. All 10 industry groups increased, paced by technology companies and consumer-discretionary shares.
Japan's Nikkei share average fell to a four-week low on Monday as the yen appreciated sharply against the dollar after Friday's disappointing U.S. jobs data, adding pressure on the outlook for Japanese exporters.
The Nikkei dropped 0.4 percent to 16,580.03 points, after falling to as low as 16,322.64, the weakest since May 10.
Hong Kong shares reversed earlier losses and ended slightly higher on Monday, supported by gains in energy and materials shares as oil and metal prices rose.
But investors remained cautious about prospects for a U.S. interest rate hike this summer, despite Friday's disappointing jobs report, and are anxious over Britain's June 23 vote on whether to remain in the EU.
The Hang Seng index rose 0.4 percent to 21,030.22 points
Stocks in China edged lower on Monday as investors await a flurry of data in coming weeks to assess the health of the economy.
But losses were capped by growing hopes that MSCI will include Chinese shares in its emerging market index in a decision next week, which could spark foreign buying.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.3 percent to 3,178.79, while the Shanghai Composite Index lost 0.2 percent to 2,934.10 points.
"In the coming week, the market will focus on May's credit and economic data," wrote Gao Ting, head of China strategy at UBS Securities.
Reference: Reuters, Bloomberg
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