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Asian stocks mostly rise, but Sydney lags

Asian stocks outside Australia and Singapore advanced on Monday, tracking the slightly stronger lead from Wall Street.

Major U.S. averages finished higher on Friday, with the Nasdaq Composite leading gains by notching up 0.4 percent as investors digested dovish signals from the U.S. Federal Reserve minutes. The blue-chip Dow Jones Industrial Average and the S&P 500 ticked up 0.2 and 0.1 percent respectively.

Meanwhile, markets in Japan are closed for the Health and Sports Day holiday.

Mainland markets up

China's share markets widened gains early Monday, with the Shanghai Composite rising 1.6 percent, following a report by the China Securities Journal that quoted a senior central banker saying that the country's stock market correction is "almost over."

Yi Gang, deputy governor of the People's Bank of China (PBOC) told an annual meeting of the International Monetary Fun (IMF) and...