Stocks mostly higher in Asia, Nikkei 225 up 262 points

SYDNEY, NSW, Australia-- Stocks in Asia were mostly moderately higher at the close Monday, while the U.S. dollar was in retreat.

In Japan, the Nikkei 225 advanced 262.49 points or 0.98 percent to 27,001. The Australian All Ordinaries shrugged off the weekend change of government, and the swearing-in of new Prime Minister Anthony Albanese on Monday, rising 7.90 points or 0.11 percent to 7,398. China's Shanghai Composite went up 0.29 of a point or 0.01 percent to 3,146. In New Zealand, the S&P NZX 50 climbed 49.07 points or 0.44 percent to 11,316. In Hong Kong, stocks were trading against the trend, with the Hang Seng down 275 points.

By the Sydney close on Monday, the euro jumped to 1.0602 on foreign exchange markets. The British pound went up to 1.2553. The Japanese yen was strengthened to 127.65. The Swiss franc was close to 0.9722.

The Australian dollar was sharply higher at 0.7104.