06:47 AM EDT, 04/22/2024 (MT Newswires) -- Asian stock markets largely forged ahead on Monday, on prospects that Middle East tensions may be easing.

Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.

In Japan, the Nikkei 225 opened higher, wobbled but held ground, finishing up 1% on geopolitical outlooks and a softer yen.

The benchmark Nikkei 225 rose 370.26 to 37,438.61, as gaining issues outnumbered losers 196 to 28.

Leading the upside was Sumitomo Pharma, up 6.7%, while diversified tech-concern Screen Holdings declined 4.7%.

In economic news, the Japanese yen traded near 155 to the US dollar, testing fresh 34-year lows.

In Hong Kong, the Hang Seng Index opened higher and held ground after Beijing late Friday disclosed securities industry regulatory changes possibly beneficial to Hong Kong-listed enterprises.

The broad gauge Hang Seng rose 287.55 to 16,511.69, as gaining issues outnumbered losers 68 to 13. The Hang Seng TECH Index gained 1.8% on the day, while the Mainland Properties Index rose 1.4%.

Leading the upside was Sino Biopharmaceutical, gaining 8.6%, while Li Auto brought up the rear, falling 8.3%.

On the mainland, the Shanghai Composite fell 0.7% to 3,044.60.

In economic news, the China Securities Regulatory Commission said it will ease Hong Kong listings by mainland China-based companies, and plans to expand the Stock Connect cross-border investment portal, all to boost Hong Kong's status as a financial hub, reported the South China Morning Post.

In other news, the People's Bank of China held the one-year and five-year loan prime rates unchanged at 3.45% and 3.95% respectively.

On the other regional exchanges, the S. Korean KOSPI rose 1.5%; the Taiwan TWSE bucked trends and declined 0.6%; the Australian ASX 200 inclined 1.1%; the Singapore Straits Times Index rose 1.5%, and the Thai Set inclined 1.3%. In late trading in Mumbai, the Sensex was up 0.8%.

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