Asia-Pacific markets started the week on a positive note, with investors monitoring the Chinese open after Beijing announced new measures to stimulate domestic consumption.
By 11:25 am AEDT (12:25 am GMT), Australia’s ASX 200 rose 0.8%, Japan’s Nikkei 225 gained 1.2%, and South Korea’s Kospi 200 advanced 0.9%.
Investors are also awaiting a wave of key economic data from China, including industrial production, urban investment, retail sales, and the urban unemployment rate.
Forecasts suggest that fixed-asset investment grew 3.6% year-on-year. Industrial production is expected to lift 5.3%, while retail sales is expected to lift 4%, compared to 3.7% the previous month.
In the U.S., major benchmark averages traded higher on Friday, partially recovering from the previous week’s declines.
The Dow Jones Industrial Average surged 674.6 points, or 1.7%, closing at 41,488.2. The S&P 500 climbed 2.1% to 5,638.9, while the Nasdaq Composite advanced 2.6% to 17,754.1.
In commodities, Brent crude oil rose 1% to US$70.58 per barrel, while spot gold eased 0.1% from its all-time high of US$3,005.04 per ounce.
In China, the Shanghai Composite Index climbed 1.8% to 3,419.6, while the CSI 300 gained 2.4%.
Hong Kong’s Hang Seng Index added 2.1% to 23,960, whereas India’s BSE Sensex edged 0.3% lower to 73,828.9.
European markets also saw strong gains, with London’s FTSE 100 rising 1.1% to 8,632.3, Germany’s DAX climbing 1.9% to 22,986.8, and France’s CAC 40 increasing 1.1% to 8,028.3.
Markets remain focused on upcoming economic indicators, with investors watching for signals on global economic growth and the Federal Reserve’s policy direction in the week ahead.
