SINGAPORE – Shares in the Asia-Pacific region traded higher on Monday as investors assessed inflation and recession fears.
Hong Kong Hang Seng Index It rose 2.13%, with Hang Seng Tech up 3.46%. Ali Baba Shares in the Chinese city rose 4.13%. Mituan It rose 4.09%.
Mainland China markets also rose. The Shanghai boat jumped 0.56%, and Shenzhen Component It rose by 0.766%.
Japan Nikkei 225 hover around 1%, While Topix rose by 0.78%. in Australia , S & P / ASX 200 A lead of 1.69%.
The Cosby In South Korea, it rose 1.73%, and the KOSDAQ index rose 2.78%.
MSCI’s broadest index of Asia Pacific shares rose 1.51%.
Russia defaulted on its foreign currency debt for the first time in more than 100 years, Bloomberg reported. The foreign reserves of the country’s central bank remain frozen.
In company news, Trip.com It is scheduled to announce its first-quarter financial results on Monday in the US after the market closes.
Later this week, China and Japan will release PMI data, while Hong Kong celebrates its 25th anniversary. China President Xi Jinping He is expected to visit Hong Kong for the occasion, The official Xinhua News Agency reported over the weekend.
Friday in the United States, Stocks rallied to snap up previous losing streaks.
“It just highlights the fact that markets are going to be very volatile until we get past that inflation peak and the outlook for central banks is as tight as it is,” said Keri Craig, global market analyst at JPMorgan Asset Management.
He said markets tend to be choppy as many central banks in advanced economies enter a new cycle of raising interest rates.
“When you have clarity on this path forward, you start to refocus on the basics,” he said in an interview with CNBC’s “Squawk Box Asia” on Monday.
Futures fell slightly on Sunday night After returning last week.
Currency and oil
The US dollar indexwhich measures the US currency against a basket of other currencies, was at 104.010.
The Japanese Yen The dollar traded at 134.61 against the dollar, up from levels above 136 against the dollar last week. The Australian dollar It was at $0.6920.
Oil futures in Asia fell in early trading on Monday. American crude The index fell 0.33% to $107.27 a barrel, while the international benchmark fell Brent crude It fell 0.11% to $113 a barrel.
“Unapologetic reader. Social media maven. Beer lover. Food fanatic. Zombie advocate. Bacon aficionado. Web practitioner.”
Nvidia announces technology to accelerate chip design at its Artificial Intelligence conference
Hard-line US Republicans oppose bank deposit guarantees that exceed the $250,000 limit
Not everyone is happy with UBS’s purchase of Credit Suisse