SINGAPORE – Asia-Pacific shares rose on Monday as investors watched Chinese economic data.
The Nikkei futures contract was at 26,825 in Chicago and its opponent was at 26,610 in Osaka. Which compares the Nikkei 225 to the last 26,427.65.
Australia’s SPI futures rose 0.77%.
Stock indices in Asia and around the world were volatile last week due to inflation concerns. Tech stocks and cryptocurrencies have been hit hard, although Bitcoin has eased some losses since then. US stocks rebounded on Friday, but still posted losses for the week.
China will report data on industrial production, retail sales, fixed asset investment and unemployment on Monday – investors are looking at those numbers to gauge the impact of the country’s zero-quad policy on the economy.
“While Shanghai has provided some positivity for the market, it is unclear when China will live with Kovid,” Tapas Strickland, director of economics at the National Bank of Australia, said in a note. NAB expects April economic data to slow quickly.
Shanghai authorities said Sunday that some businesses would resume work in the store, Reuters reported.
Markets in Singapore, Malaysia, Indonesia and Thailand are closed for the holidays on Monday.
The US dollar index, which tracks the greenback against a basket of its peers, was at 104.553, slightly higher than last week’s level.
The Japanese yen traded at 129.48 per dollar, weaker than the previous close. The Australian dollar was 0.6941.
US crude futures rose 0.73% in early trade to 1 111.29 a barrel.