Asia shares rally on China's gains, Fed cut bets; yen weakens

SINGAPORE: Asian stocks rose to their highest in over a year on Monday on renewed bets that the Federal Reserve would most likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention.

Trading was thin in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start after returning from an extended break.