Asia bounce on US cues though dollar gains may clip wings

Asian stocks edged higher on Monday, helped by a strong Wall Street, and the dollar stood tall against rivals after the latest US payrolls data indicated strong underlying wage growth, strengthening the case for more rate increases in 2017.

MSCI's ex-Japan Asia-Pacific shares index 0.3 percent after posting a rare loss in the previous session.

Australia's S&P/ASX200 rose 1 percent while Hong Kong shares rose 0.4 percent. Trading was light because Japan is shut for a holiday.

US stocks ended at record highs fueled by optimism over Trump's plans to stimulate the economy with lower taxes and increased infrastructure spending. Both the Nasdaq and the S&P 500 ended at record highs.

Oil prices edged lower thanks to a stronger dollar and growing concerns over whether OPEC producers would stick to an agreement to cut output. Brent crude futures LCOc1 were down 0.3 percent in early trade.

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