Asia Markets: Nikkei rises as dollar hits 11-month high against yen

Asian stock markets were mixed Monday, with markets in China starting a weeklong holiday and Hong Kong closed, leaving equities to trade on local factors over broader themes.

Japan’s Nikkei NIK, +0.52% was up 0.5% as the dollar continues to push higher against the yen USDJPY, +0.21% , hitting levels not seen since last November, and helping Japan’s exporters. Drug, consumer and some electronic stocks led the gains, with drug maker Shionogi 4507, +1.47% up 1.5% and chip maker Tokyo Electron 8035, +2.21% up around 2%. Despite the currency moves, auto-maker stocks were weaker, as Subaru 7270, -2.10% slumped 2%.

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