Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Asia-Pacific stocks higher as investors expect China’s GDP

Asia-Pacific stocks higher as investors expect China’s GDP



SINGAPORE – Shares in the Asia-Pacific region rose on Monday morning as investors await the release of China’s GDP data.

Hong Kong’s Hang Seng index jumped 1.47% at the start of trading, with HSBC shares listed in the city gaining more than 3%.

Shares of Alibaba in Hong Kong rose more than 1.5%. The financial technology subsidiary of Chinese technology giant Ant Group has received approval from the Chinese Securities Regulatory Commission for the Hong Kong leg of the expected list, a source told CNBC.

Meanwhile, shares of Sun Art Retail Group jumped more than 28% after Alibaba announced that it agreed to acquire controlling stakes in the company.

In Japan, the Nikkei 225 rose 1

.22% in morning trading, while the Topix index added 1.42%.

Japan’s exports fell 4.9 percent from a year earlier in September, according to trade statistics released by the country’s finance ministry on Monday.

Kospi from South Korea also advanced by 0.74%.

Meanwhile, shares in Australia rose higher, with the S & P / ASX 200 up about 1.1%.

MSCI’s broadest Asia-Pacific equity index outside of Japan traded 0.9% higher.

Chinese economic data forward

Investors’ focus on Monday will be on the seal of China’s GDP for the third quarter, as well as data on industrial production and retail sales for September.

“We expect the discard to emphasize that China’s economic recovery is under way,” Commonwealth Bank strategists wrote in a note.

“Unlike many other economies, China’s economic recovery has been strong. The level of infection has remained low and politicians have been able to focus on restarting the economy rather than on health outcomes,” the strategists said.

Currencies and oil

The US dollar index, which tracks exchange rates against a basket of its peers, was last at 93,676, after hitting levels around 93.9 in recent days.

The Japanese yen traded at 105.42 per dollar after seeing levels below 105.3 against the greenback last week. The Australian dollar changed hands to $ 0.7101 after falling last week from above $ 0.715.

Oil prices changed slightly in the morning in Asian trading hours, with international reference futures for Brent crude oil rising in part to $ 42.95 a barrel. US crude futures were above the plane.

What is heard:

  • China: GDP for the third quarter, industrial production, retail sales and fixed assets investment data for September at 10:00 AM HK / SIN

– Arjun Harpal of CNBC contributed to this report.


Source link