Asian shares near 6-week highs, eyes on Fed, U.S. GDP – Reuters

Asian shares near 6-week highs, eyes on Fed, U.S. GDP – Reuters

Asian stocks rose for a third straight session on Monday as risk appetite was aided by recent data showing the world economic recovery from the coronavirus pandemic was well on track while the U.S. dollar loitered near two-month lows.MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 0.2% to 699.63, the highest since March 18.The index has had a strong run lately as it clocked its second consecutive weekly rise on Friday and was on track for another month of gains. Since April 2020, the index has offered positive returns in all but three months.South Korea's KOSPI index (.KS11) rose 0.3% while New Zealand shares added 0.6%.Japan's Nikkei (.N225) was down 0.3% while Australia's benchmark share index (.AXJO) was off a shade too with a public holiday in five of the country's eight states and territories.Risk appetite was whetted by early April manufacturing activity indicators out last week, which pointed to a robust start to the second-quarter with data hitting record highs in the United States and signalling an end to Europe's double dip recession.Investors embraced the strong data, shrugging off earlier concerns about potential higher U.S. taxes on capital gains under the Biden administration.On Friday, U.S. shares ended