SINGAPORE – Shares in the Asia-Pacific region traded higher on Monday as investors assessed inflation and recession fears.
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.
The US dollar indexwhich measures the US currency against a basket of other currencies, was at 104.010.
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