Asian shares mostly higher as Nikkei continues upward streak

Japanese stocks rose on Monday, continuing a run that saw the best weekly gain for the index this year last week on a weak yen, while Asian shares generally gained on a more detailed blueprint for reform in China that held out prospects of greater foreign investment opportunities.

Japan's Nikkei rose 0.42%, adding to a 7.7% jump last week--the index's best weekly gain so far this year. Hong Kong's Hang Seng index surged 2.17% in morning trade and Shanghai's Composite index was up 1.39% as China released more details of its economic reform plans in the coming decade.

Beijing late Friday released a reform plan that called for opening the financial sector to more foreign investment and a revamp of initial public offerings, particularly for state-owned companies.

The document came after the Chinese Communist Party leadership ended a meeting on Tuesday last week with only abroad outline of reform plans.

A weaker yen lifted the Nikkei as well, though the currency has strengthened slightly in midday trade, but remains solidly above 100 yen to the dollar.

South Korea's Kospi rose 0.5% and Australia's S&P/ASX 200 dropped 0.6%.