On July 20, 2023, a man walked past the People’s Bank of China (PBOC) building in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty Images
China News Service | China News Service | Getty Images
Asia-Pacific markets were mostly higher on Monday, kicking off a week filled with economic data from the region.
China on Friday laid out measures to boost its real estate market and will announce preferential interest rates for one- and five-year loans later in the day. The five-year LPR is an important reference interest rate for home mortgage loans.
Later this week, investors will also focus on Japan’s trade, inflation and business activity data, while Singapore is due to release April inflation data and final first-quarter gross domestic product data.
Japan’s Nikkei 225 Index Trading was near the flat line, while the broad-based Topix gained 0.18%.
Korean Cospi The Kosdaq rose 0.63%, but the small-cap Kosdaq fell 0.75%.The country’s central bank will release an interest rate decision later this week
The Australian S&P/ASX 200 Index up 0.42%.
Hong Kong’s Hang Seng Index futures were quoted at 19,704 points, opening stronger compared with the Hang Seng Index’s closing point of 19,553.61 points.
Friday in America, Dow Jones Industrial Average It closed above the key 40,000 level for the first time on Friday.
The Dow hit the 40,000 mark for the first time in Thursday’s trading session, but closed above it for the first time a day later, rising 134.21 points, or 0.3%, to close at 40,003.59.
this S&P 500 Index It edged up 0.1% on Friday, while Nasdaq Index It fell less than 0.1%.
Tom Lee, head of research at Fundstrat Global Advisors, said the market rally should continue at least in the short term.Li emphasized Microsoft build event Tuesday through Thursday in the U.S., as well as Nvidia’s fiscal first-quarter results on Wednesday, are potential catalysts.
—CNBC’s Lisa Kailai Han contributed to this report.
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