Asia-Pacific markets advanced in early trading on Monday as investors awaited further stimulus measures from China and monitored progress in trade negotiations between the United States and regional economies.
China’s finance minister Lan Fo’an over the weekend pledged that the government would adopt “more active and effective macroeconomic policies” to ensure it meets its full-year growth target and to continue supporting global economic stability and momentum.
By 11:20 am AEST (1:20 am GMT), Australia's S&P/ASX 200 rose 0.9%, South Korea’s Kospi 200 added 0.4%, and Japan’s Nikkei 225 advanced 0.7%.
In a positive sign for China’s economy, cumulative profits of industrial firms rose 0.8% year-on-year to 1.5 trillion yuan (A$322.46 billion) in the first quarter, according to data from the National Bureau of Statistics.
This marks a reversal from a 0.3% decline recorded in the first two months and a 3.3% decline in 2024. For March alone, industrial profits rose by 2.6% compared to a year earlier.
On Wall Street Friday, the Dow Jones Industrial Average edged up 0.1% to close at 40,113.5. The S&P 500 gained 0.7% to finish at 5,525.2, while the Nasdaq Composite rose 1.3% to end at 17,282.9.
In commodities markets, Brent crude edged 0.2% higher to US$65.80 per barrel, while spot gold slipped 0.9% to trade at US$3,319.34 per ounce.
Chinese equities delivered a mixed performance, with the Shanghai Composite slipping 0.1% to 3,295.1, while the CSI 300 ticked up 0.1% to 3,787.0. Hong Kong’s Hang Seng Index gained 0.3% to 21,980.7, whereas India’s BSE Sensex dropped 0.7% to 79,212.5.
European markets also finished stronger, with London’s FTSE 100 adding 0.1% to 8,415.3, Germany’s DAX rising 0.8% to 22,242.5, and France’s CAC 40 climbing 0.5% to 7,536.3.
