Asian markets posted gains across the board on Monday, with the ASX 200 extending its record-setting run, as investors looked toward key economic data releases, including China’s industrial production figures and India’s third-quarter GDP report later in the week.
By 2:00 pm AEDT (3:00 am GMT), Australia’s ASX 200 rose 0.7% to trade at all-time highs of 8,458.9, Japan’s Nikkei 225 climbed 1.5%, and South Korea’s Kospi added 1.6%.
China’s Shanghai Composite opened 0.3% higher, while Hong Kong's Hang Seng Index edged up 0.1%.
Singapore is set to publish its October inflation rate later today, with markets forecasting a decline to 1.8% from September’s 2%. If accurate, this would mark Singapore’s lowest inflation rate since March 2021.
Other anticipated data this week includes South Korea’s central bank rate decision on Wednesday, as well as inflation figures from Australia and Japan. Australia’s October inflation data is scheduled for release on Wednesday, while Tokyo’s November inflation figures, a bellwether for national trends, will be unveiled on Friday.
These gains follow a strong performance on Wall Street last Friday. The Dow Jones Industrial Average advanced 426.2 points, or 1%, to close at a record 44,296.5, its third consecutive positive session.
The S&P 500 rose 0.4%, marking its fifth straight day of gains, while the Nasdaq Composite added 0.2%.
However, declines of 3.2% in Nvidia and 1.7% in Alphabet weighed on the Nasdaq’s performance.
