Asia-Pacific markets were mostly higher on Monday as investors are waiting for economic data later this week. This includes the minutes of the US Federal Open Market Committee (FOMC).
The People’s Bank of China did not change the key 1-year and 5-year loan rates.
The CSI 300, which tracks shares of the largest listed companies in Shanghai and Shenzhen, rose 2,456%.
The Shenzhen component rose 2.032% to 11,953.13, while the Shanghai composite rose 2.07% to 3,290.35. The Hang Seng Index rose 0.86% in the last hour of trading, while the Hang Seng Technology Index gained 1.33%.
In South Korea, the Kospi ended the day slightly higher at 2,453.14, while defense stocks were mixed after North Korea fired missiles into its eastern waters.
Japan’s Nikkei 225 rose slightly to 27,531.93, with the Topix rising 0.38% to close at 1,999.72, as investors awaited Bank of Japan Governor-designate Kazuo Ueda’s appearance in parliament on Friday. .
In Australia, the S&P/ASX 200 closed marginally higher at 7,351.4 as the Reserve Bank of Australia meeting minutes are scheduled to be released on Tuesday.
Stocks ended mixed on Friday, with the Dow Jones Industrial Average gaining more than 100 points. The S&P 500 and the Nasdaq Composite fell. US markets will not trade for President’s Day.
Chinese stocks rose on Monday afternoon
Shares in China Vanke rose 2.77% in Shenzhen, while China Merchants Shekou Industrial Zone rose 3.33%. Chinese developer Gemdale also gained 3.25%.
The Hang Seng Mainland Property Index also rose 2.98%, while the SSE Banks Index rose 2.28%.
Malaysia posted a trade surplus for the thirty-third consecutive month in January 2023, amounting to RM18.3 billion.
That was slightly below expectations, which had forecast a surplus of $20.23 billion.
The country’s statistics department said Malaysia’s exports in January rose 1.63% year-on-year to RM112.83 billion, while imports also saw a 2.38% rise to RM94.73 billion in the same period.
Total trade in Malaysia rose 1.95% to RM207.53 billion from RM203.63 billion in January 2022.
The ringgit weakened slightly against the US dollar, trading at 4.4276 after the data was released.
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