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| Shares in Asia mostly up on Monday following the US | Shares in Asia mostly up on Monday following the US |
| (about 3 hours later) | |
| Shares in Asia were mostly up on Monday following gains on Wall Street and a week of highs in Asia. | Shares in Asia were mostly up on Monday following gains on Wall Street and a week of highs in Asia. |
| In Japan, the benchmark Nikkei 225 index was up 0.3% at 19,967.38 points. | In Japan, the benchmark Nikkei 225 index was up 0.3% at 19,967.38 points. |
| On Friday, the index traded above 20,000 for the first time since April 2000. | On Friday, the index traded above 20,000 for the first time since April 2000. |
| The Nikkei is up nearly 15% this year. | The Nikkei is up nearly 15% this year. |
| Australian shares were also in positive territory with the S&P/ASX 200 index up 0.6% at 5,968.37 in morning trade. | Australian shares were also in positive territory with the S&P/ASX 200 index up 0.6% at 5,968.37 in morning trade. |
| However, commodity prices were weighing on shares of some mining companies as iron prices remain depressed. | However, commodity prices were weighing on shares of some mining companies as iron prices remain depressed. |
| Australia has said it expected the plunging price of iron ore to slash revenue forecasts by A$25bn (£13bn; $19bn) over the next four years. | Australia has said it expected the plunging price of iron ore to slash revenue forecasts by A$25bn (£13bn; $19bn) over the next four years. |
| Australian Treasurer Joe Hockey told the Australian Financial Review that the price for iron ore, Australia's biggest export, could fall as low as $35 a tonne. | Australian Treasurer Joe Hockey told the Australian Financial Review that the price for iron ore, Australia's biggest export, could fall as low as $35 a tonne. |
| Shares of mining giant BHP Billiton were down 0.66% in early trade, while trading in Atlas Iron shares was suspended. The company said on Friday that it would stop all mining in Australia because iron ore prices were below its breakeven level. | |
| "Despite an extensive cost-cutting program ... the global supply-demand imbalance for iron ore has driven prices down to the point where it is no longer viable for Atlas to continue production," the firm said. | "Despite an extensive cost-cutting program ... the global supply-demand imbalance for iron ore has driven prices down to the point where it is no longer viable for Atlas to continue production," the firm said. |
| In South Korea, the Kospi was up 0.25% at 2,093.06. | In South Korea, the Kospi was up 0.25% at 2,093.06. |
| In China, the Shanghai Composite benchmark was up 0.86% at 4,069.17 points in early trade after crossing the 4,000 mark for the first time since 2008 on Friday. | In China, the Shanghai Composite benchmark was up 0.86% at 4,069.17 points in early trade after crossing the 4,000 mark for the first time since 2008 on Friday. |
| In Hong Kong, the Hang Seng index added 0.35% to 27,367.66 points after marking a seven-year high last week. | In Hong Kong, the Hang Seng index added 0.35% to 27,367.66 points after marking a seven-year high last week. |