On April 12, 2023, a panoramic view of the Lujiazui financial district in Pudong, Shanghai.
Hector Retamar | AFP | Getty Images
Asia-Pacific markets rose sharply ahead of the release of key inflation reports this week, including a report on U.S. consumer prices on Wednesday and producer prices on Thursday.
In the region, inflation and producer prices in China later today will provide more context on the country’s recovery trajectory. Economists polled by Reuters expect the CPI reading to remain unchanged after producer prices slumped last month.
U.S. Treasury Secretary Janet Yellen wrapped up a visit to Beijing, saying the talks had been “direct” and “productive” and put the bilateral relationship on a “more solid foundation”.
in Japan, Nikkei 225 Index After falling more than 1 percent on Friday, it rebounded slightly to gain 0.28 percent, while the Topix also rose 0.13 percent.
South Korea’s Kospi also rose 0.17%, while the Kosdaq Composite lost 0.36%.Australian S&P/ASX 200 Index Up 0.52%.
Hong Kong’s Hang Seng Index was also set to recover some lost ground on Monday, with futures at 18,759 points, compared with its last close of 18,365.7 points.
U.S. stocks closed lower on Friday, with all three major indexes falling on concerns that the Federal Reserve will raise interest rates this month.
The Labor Department’s employment report for June showed a weaker-than-expected increase in payrolls, a slowdown from May. Non-farm payrolls increased by 209,000 and the unemployment rate was 3.6%.
The Dow Jones Industrial Average fell the most at 0.55%, the S&P 500 lost 0.29% and the Nasdaq Composite lost 0.13%.
— CNBC’s Samantha Subin and Brian Evans contributed to this report