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LONDON (Reuters) – Investors jumped into equities on Monday, the first full day of 2009 trading for many, as low prices and hopes for a global economic recovery later this year prompted a shift into riskier assets.

Fears of spreading trouble in the Middle East, meanwhile, kept oil prices firm. The dollar climbed, sending the euro to a three-week low.

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HONG KONG (Reuters) – Asian stocks rose to a two-month high on Monday, with expectations for a global economic recovery later this year on the back of massive government spending prompting investors to wade back into riskier assets.

Regional equities have risen for six consecutive days, bolstered by expectations big government stimulus spending packages in coming weeks will revive growth and banks will eventually lend to each other again.

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TOKYO (Reuters) – Japan's Sony Corp is likely to announce closures of Japanese factories and major divisions early next month, the Times of London said on Monday, but the company denied any such plan existed.

The maker of Bravia flat TVs and PlayStation video game consoles faces halting sales and mounting piles of inventory in the wake of the financial crisis, even as a stronger yen bites into earnings.

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HONG KONG (AFP) – More than 40 Hong Kong toy makers who lost money following the collapse of US retailer KB Toys said Monday they would be seeking compensation from trading firm Li & Fung.

The manufacturers, who have grouped together to form the Joint Committee for Li & Fung Creditors, said the Hong Kong-listed trading giant, which acted as an agent for KB Toys, had both business and moral obligations to make the payments.