A sunrise aerial view of skyscrapers in the Lujiazui financial district in Shanghai, China, on June 8, 2022.
Zhang Zhuoming | Copyright Getty Images
Asia-Pacific markets rose on Monday as Chinese industrial profits rose in the first four months of the year, official data showed.
China’s industrial profits rose 4.3 percent in the first four months of the year from a year earlier, according to data from the National Bureau of Statistics.
Mainland China’s benchmark CSI 300 index rose 0.95% to 3,635.7, while Hong Kong’s Hang Seng index added 1.27%.
Further economic data is due to be released from China and India later this week. The world’s second-largest economy will release its official purchasing managers’ index on Friday, while India will report its fourth-quarter gross domestic product.
Australia is also due to release its April inflation data on Wednesday, with analysts at ING expecting a “modest decline”.
Korean Cospi It rose 1.32% to close at 2,722.99, while the small-cap Kosdaq rose 1.02% to close at 847.99.
Japanese Nikkei Stock Average It closed up 0.66% at 38,900.02, while the Topix rose 0.87% to 2,766.36, bouncing back from Friday’s losses.
Australia S&P/ASX 200 It rose 0.79% to 7,788.3, snapping a four-day losing streak.
Friday in the United States Nasdaq Composite Index Chipmaker Nvidia’s shares closed at a record high as gains outweighed concerns that the Federal Reserve will delay interest rate cuts.
The tech-heavy index rose 1.1% to finish at 16,920.79. S&P 500 Up 0.7% Dow Jones Industrial Average It rose 0.01%.
US markets will be closed on Monday for a public holiday.
—CNBC’s Brian Evans and Hakyung Kim contributed to this report.
