Hedge funds purchased oil last
week at the fastest rate for almost a year, as escalating
tensions in the Middle East and hopes for a cut in U.S. interest
rates outweighed concerns about flagging global growth.
Trading on China's new
Nasdaq-style board for homegrown tech firms hit fever pitch on
Monday, with shares up as much as 520% in a wild debut that more
than doubled the board's combined market capitalisation and beat
veteran investors' expectations.
For the first time in nearly
five months, economists did not cut their economic growth
forecast for Brazil, a central bank survey showed on Monday,
snapping a run of 20 consecutive weeks of downward revisions and
indicating that the economy may have bottomed out.
Sri Lankan shares closed lower
on Monday, snapping an eight-session gaining streak, as
investors booked profits, while the rupee weakened on higher
importer dollar demand.
** The country's benchmark stock index ended down 0.97%