Asian stock markets follow economic data from the region
Asian markets follow Wall Street gains; China maintains loan interest rates.
Asia-Pacific markets were mostly higher on Monday, tracking Wall Street’s gains as investors await economic data from across the region this week.
China kept its one- and five-year loan interest rates unchanged at 3.45 percent and 3.95 percent, respectively, after announcing measures to stimulate the real estate market on Friday. The five-year LPR is the reference rate for home mortgages.
Hong Kong’s Hang Seng index rose 0.51 percent following the announcement, while mainland China’s CSI300 gained 0.42 percent.
While investors await trade, inflation and business activity data from Japan later this week, Singapore will release inflation data for April and final figures for its first-quarter gross domestic product.
Japan’s Nikkei 225 index rose 1.5 percent, while the broad-based Topix gained 1.21 percent.
South Korea’s Kospi index rose 1.09 percent, but the small-cap Kosdaq lost 1.02 percent. The country’s central bank will announce its interest rate decision on Thursday this week.
Investors will also keep an eye on Taiwan as Lai Ching-te officially takes over as the island’s new president, with the Taiwan Weighted Index rising marginally.
Australia’s S&P/ASX 200 gained 0.59 percent.