Asia-Pacific stocks rise ahead of major economic data this week
SINGAPORE — Shares in Asia-Pacific rose in Monday morning trade as investors look ahead to major economic data releases later in the week.
MSCI’s Asia-Pacific stock index outside Japan was 0.8% more.
Later in the week, there will be several important data releases. China will announce the official manufacturing purchasing managers’ index for May. Investors look for clues about the economic effects of Covid lockdowns in the mainland.
In a Monday note, analysts from OCBC Treasury Research stated that the PMIs in China would show some improvement over April’s slump. However, they will remain in contraction territory.
U.S. employment data will be released Friday. Monday is a national holiday in America so markets are not open.
The U.S. dollar indexAfter a recent decline from levels of 102,, which compares the greenback to a basket made up of peers, was at 101.637.
The morning Asia trading hour saw oil prices rise, and international benchmarks were also higher. Brent crude futuresBarrel price: 0.19% to $119.66 U.S. crude futuresBarrel price increased by 0.44%, to $115.58