The Hang Seng Index and Nikkei Index rose on Monday, as weaker-than-expected US employment data eased concerns about a Federal Reserve rate hike this month, while falling oil prices also alleviated inflationary pressures.

The Hang Seng Index rose 68 points, or 0.3%, to close at 24,040 points; the Nikkei Index rose 1,637 points, or 2.4%, to close at 69,946 points, a three-month closing high. This followed the release of US September non-farm payrolls, which increased by only 29,000, significantly below the expected 90,000, causing market expectations for a Fed rate hike this month to fall from over 65% at the beginning of last week to over 20%.

G7 leaders also decided to release 100 million barrels of diesel and crude oil reserves within four months and pledged not to restrict energy exports, while Saudi Arabia also lowered its benchmark crude oil prices for Asia.