Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan.
Toru Hanai | Bloomberg | Getty Images
Shares in the Asia-Pacific were mixed on Monday ahead of China’s factory activity data that’s slated to be released, and as markets look ahead to the U.S. Fed meeting later this week.
Hong Kong’s Hang Seng index dropped around 1% in early trade while Hang Seng Tech index gained 1%. Gaming stocks dropped more than 2% after a casino was locked down on Sunday due to a Covid case. In mainland China, the Shanghai Composite fell 0.57% and the Shenzhen Component slipped 0.375%.
The Nikkei 225 rose 1.39%, and the Topix gained around 1%. South Korea’s Kospi added 0.58% and the Kosdaq was 0.52% higher.
In Australia, the S&P/ASX 200 increased 0.64%. MSCI’s broadest index of Asia-Pacific shares outside Japan was about flat.
China’s National Bureau of Statistics is expected to release its Purchasing Managers’ Index data Monday, and analysts expect a reading of 50, according to a Reuters poll.
Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.
On Friday in the U.S., major stock indexes jumped 2% each on optimism that inflation may be slowing.
Read More: Hong Kong stocks drop in mixed Asia-Pacific trade ahead of China factory activity data