SINGAPORE – Shares in the Asia-Pacific region rose in early morning trading on Monday as investors looked ahead to key economic data later in the week.
MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.8%.
Several key data are expected later in the week. China is set to release its official May manufacturing PMI on Tuesday, as investors look for clues to the economic impact of the Covid-related shutdowns on the mainland.
“For the next week, keep an eye on PMIs especially from China which may show a modest recovery from the April recession but remain in contraction territory,” analysts at OCBC Treasury Research wrote in a note on Monday.
US jobs data is expected on Friday. Markets in the US are closed on Monday for a holiday.
The US dollar indexwhich measures the greenback against a basket of other currencies, was at 101.637 after the recent decline from levels above 102.
Oil prices rose in the morning from Asian trading hours, with the international standard Brent crude futures contracts It rose 0.19% to $119.66 a barrel. US crude futures contracts Gaining 0.44% to $115.58 a barrel.
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