Summary The dollar was firm while the euro continued to face pressure.
HONG KONG (AFP) - Asian markets rose Monday, buoyed by record closes on Wall Street as investors look for clues later this week from upcoming US employment figures and potential European easing measures.
The dollar was firm while the euro continued to face pressure ahead of this week's European Central Bank board meeting that many expect will see an easing of monetary policy.
Tokyo jumped 1.87 percent in early trade and Sydney rose a more modest 0.3 percent while trade in Seoul was up 0.2 percent. Financial markets in Hong Kong, China, Taiwan and New Zealand were closed for public holidays.
The positive trade in Tokyo came off the back of record finishes on Wall Street Friday following a flurry of merger and acquisition activity.
The Dow Jones Industrial Average advanced 0.67 percent, or 110.90 points, for the week to 16,717.17, setting a fresh record, while the tech-rich Nasdaq Composite Index rose 1.36 percent, or 56.81 points, to 4,242.62.
Canadian pharmaceutical firm Valeant Pharmaceuticals International raised its bid on Wednesday for Botox-maker Allergan and then raised it again on Friday to about $53.5 billion.
The food industry was also in focus as US meat processing giant Tyson Foods and Brazilian heavyweight JBS both launched unsolicited takeover campaigns for Hillshire Brands.
With few catalysts driving action, investors in Asia are looking to a string of data releases this week for trading clues -- including US jobs figures -- as well as the European Central Bank meeting on Thursday.
Financial markets are betting on an interest rate cut from the ECB as low inflation, the strong euro and anaemic credit finally spur it into action.
There was some regional cheer after figures released by China over the weekend showed manufacturing activity strengthening to a five-month high in May, an optimistic sign amid slumping growth in the world's second-largest economy.
The official purchasing managers index (PMI) reached 50.8 in May, the National Bureau of Statistics said in a statement, up from 50.4 in March.
The index tracks manufacturing activity in China's factories and workshops and is a closely watched indicator of the health of the economy. A reading above 50 indicates growth.
On foreign exchange markets the dollar was firm, trading at 101.85 yen compared with 101.75 yen in New York Friday afternoon. The euro bought $1.3626 and 138.77 yen against $1.3630 and 138.75 yen.
Oil prices rose. US benchmark, West Texas Intermediate (WTI) for delivery in July, gained 35 cents to $103.06 a barrel. Brent North Sea crude for July was also up 20 cents to stand at $109.61 a barrel in early Asian trading.
Gold fetched $1,247.79 an ounce at 0200 GMT compared to $1,250.50 late Friday.
