Stock Groups

China economic data, Covid, inflation


SINGAPORE — Shares in the Asia Pacific rose on Monday as investors watched for a slew of Chinese economic data.

Japan’s Nikkei 225The Topix gained 1.54% and the Topix gained 0.93% during early trading.

South Korea’s Kospi rose by 0.46% and its Kosdaq was up by 1.43%.

Australia is home to the S&P/ASX 200 climbed 0.73%.

MSCI’s Asia-Pacific share index outside Japan was up 0.33%

Over inflation worries, stock indexes around the globe and in Asia were volatile last week. However, tech stocks and cryptocurrency were hard hit. bitcoinSince then, some of the losses have been reduced. U.S. stocks recovered on Friday, however. still posted losses for the week.

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China will report data on April’s industrial production, retail sales, fixed asset investment and unemployment on Monday — investors are looking to those numbers for clues on the impact of the country’s zero-Covid policy on the economy.

Tapas Strickland director of economics, National Australia Bank. “While Shanghai offered some optimism for the markets, it’s not clear when China is going to pivot to living with Covid,” Tapas Strrickland. said in a note.NAB predicts that April economic data will show a sharp decline.

Shanghai officials announced Sunday that certain businesses would resume their in-store operations. Reuters reported.

Monday is a holiday in Singapore and other markets.


The U.S. dollar indexThe index, which compares the greenback to a basket that its peers is at 104.553 was slightly higher than last weeks levels.

The Japanese yenThe dollar traded at 129.45, which is still higher than the 130 levels last week. The Australian dollarWas at $0.6943

Asia Trade saw oil futures rise early. U.S. crude futures climbed 0.23% to $110.74 per barrel, while international benchmark Brent crude futures were up 0.8% at $111.77 per barrel.