Asia-Pacific markets saw mixed trading on Monday following a positive week for major U.S. indices.
By 10:30 am AEDT (11:30 pm GMT), the ASX 200 slipped 0.5%, while the Kospi 200 and Nikkei 225 each edged up 0.1%.
Japan’s economy expanded faster than expected in the fourth quarter, with preliminary government data showing annualised GDP growth of 2.8%, exceeding estimates of 1%.
Thailand is set to release its fourth-quarter GDP data later in the day. Meanwhile, the Reserve Bank of Australia has commenced its two-day meeting, which could result in an interest rate cut on Tuesday, while Indonesia and New Zealand’s central banks are expected to announce their rate decisions on Wednesday.
In the United States, stocks closed higher for the week despite a mixed session on Friday. The S&P 500 gained 1.5% over the week, while the Nasdaq Composite advanced 2.6% and the Dow Jones Industrial Average rose 0.5%.
On Friday, the Dow slipped 0.4%, the S&P 500 dipped less than 0.1%, and the Nasdaq inched up 0.4%.
Airbnb led S&P 500 gains, surging 14.5% after a strong earnings report, while DaVita dragged down the index’s health services segment, falling 11.1%.
The Dow was pressured by consumer non-durables, with Procter & Gamble declining 4.7%. Coinbase also dropped despite reporting a surge in revenue and profit.
Investors largely shrugged off weaker economic data, including a 0.9% decline in January retail sales, worse than the expected 0.2% drop.
Earlier in the week, investor sentiment improved after President Donald Trump opted not to immediately impose new tariffs and optimism grew over a potential resolution to the Ukraine war.
In commodities, Brent crude oil slipped 0.4% to US$74.74 per barrel, while gold declined 1.6% to $2,882.53 per ounce.
Chinese equities closed higher, with the Shanghai Composite rising 0.4% to 3,346.7 and the CSI 300 adding 0.9% to 3,939.
Hong Kong’s Hang Seng Index climbed 3.7% to 22,620.3, while India’s BSE Sensex dropped 0.3% to 75,939.2.
In Europe, markets ended mixed. Germany’s DAX declined 0.4% to 22,513.4, while France’s CAC 40 gained 0.2% to 8,178.5. The UK’s FTSE 100 fell 0.4% to 8,732.5.
