Greens dominate the Asian stock market
Asian markets rose as the Fed meeting approached.
The Japanese yen weakened to 160 against the dollar on Monday as stocks in Asia-Pacific markets rose.
The yen weakened further on Friday after the Bank of Japan left interest rates unchanged. Japan Stock Exchanges are closed for a public holiday.
Investors are looking ahead to this week’s Fed meeting after Friday’s warmer-than-expected US inflation data.
March’s core personal consumption expenditures, excluding food and energy, increased by 2.8 percent compared to the previous year, above the 2.7 percent expected by Dow Jones. Personal spending rose 0.8 percent, above the 0.7 percent forecast.
In Asia, China’s April official purchasing managers’ index is expected on Tuesday and Japan’s March industrial production and retail sales data are expected ahead of the Labor Day holiday on Wednesday.
Australia’s S&P/ASX 200 index recovered after Friday’s losses and rose 0.43 percent.
South Korea’s Kospi index gained 0.84 percent and the small-scale Kosdaq gained 0.72 percent.
Hong Kong’s Hang Seng index rose 0.82 percent, while China’s CSI 300 index rose 0.1 percent.