Asia-Pacific stocks rise ahead of key economic data this week

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.

in Japan , Nikkei 225 It was up 1.74% in morning trade as the robot maker’s share price rose Fanuc It jumped more than 3%. Topix is ​​up 1.47%.

Hong Kong Hang Seng Index 0.94% advance. More in mainland China, Shanghai boat It rose about 0.2% while Shenzhen Component It rose by 0.355%.

The Cosby In South Korea it also rose 0.9%, while it rose in Australia S & P / ASX 200 It rose 0.9%.

MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.8%.

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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.

Currency and oil

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.

The Japanese Yen 127.09 per dollar traded, stronger compared to levels above 127.8 seen against the dollar last week. The Australian dollar It was at $0.7165 after rising last week from below $0.71.

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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