Asian stocks rise as investors digest regional and U.S. data
Asia Pacific stocks climbed on Monday morning following the release of the region’s economic data, while the. U.S. investors gauge how long the current monetary policy of the U.S. Federal Reserve will last.
China’s Shanghai Composite jumped 0.18%, while the Shenzhen Component rose 0.09%.
The Caixin services purchasing managers index (PMI) dropped at 50.3, lower than last month’s figure of 55.1. Chinese consumer price index and producer price index data will be released later in the week.
Hong Kong’s Hang Seng Index edged up 0.03%.
Japan’s Nikkei 225 fell 0.59%, with the services PMI at 48, exceeding forecast.
The ASX 200 climbed 0.15% in Australia, with the services PMI at 56.8, slightly higher than forecasted. Australian retail sales grew 0.4% month-on-month in May.
The Reserve Bank of Australia (RBA) is expected to release its policy decision on Tuesday.
Meanwhile, South Korea’s KOSPI gained 0.46%.