Business

Australia's shares boosted by commodity stocks

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Shares in Australia led markets on Monday, closing 1% higher, boosted by commodity and energy-related stocks.

Investor sentiment was also up after a positive US jobs report on Friday.

Sydney-listed shares in mining giant Fortescue Metals rose by a staggering 23.7%, while BHP Billiton and Rio Tinto were up 5% and 3.5% respectively.

By the end of trading, Sydney's benchmark ASX/200 had climbed to 5,142.80 points. In China, Hong Kong's Hang Seng was flat at 20,159.72.

Hong Kong-listed shares of Chinese telecoms firm ZTE Corporation were halted from trade on Monday morning.

On Sunday, Reuters news agency said the US Commerce Department was "set to place export restrictions on [the] Chinese telecoms equipment maker... for alleged violations of US export controls on Iran".

The firm did not respond to written requests from the BBC for more information about the possible restrictions.

Meanwhile, the mainland Shanghai Composite finished the day 0.8% higher at 2,897.34 points.

Over the weekend, China's chief economic planner said the country would "absolutely not experience a hard landing" despite growth forecast cuts.

Elsewhere, Japan's Nikkei 225 was bucking the regional trend, closing the day 0.6% down at 16,911.32.

In South Korea, the Kospi index finished flat at 1,957.87 points.

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