Asia shares climb as more countries ease restrictions

Asian shares gained on Monday as investors await more countries to re-open their economies despite a pick up in coronavirus cases.

South Korea warned of a second wave of infections as cases grew to a one-month high, while new infections were reported in Germany.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.1%.

Japan’s Nikkei gained 1.6%, while Chinese blue chips grew 0.7%. 

S&P 500 e-mini futures were up 0.5%.

EUROSTOXX 50 futures climbed 0.8%, while FTSE futures rose 0.7%.

Wall Street had rallied on Friday as the April payrolls were reported to be less dire than expected.

Two-year U.S. Treasury yields hit a record low of 0.105%, while Fed fund futures traded in negative territory for the first time.

The fall in U.S. yields may have weighed on the dollar. However, as rates dropped to near zero, major currencies have been trading in ranges.

The dollar firmed at 106.94 on the yen. The dollar index stood at 99.837, stuck in a range between the support, 98.769, and the resistance, 100.40.