Hong Kong’s Hang Seng index led gains in the region on Monday, fueled by a surge in property stocks, while other Asia-Pacific markets experienced a mixed start to the week. The Hang Seng index (HSI) surged by 2.5%, accompanied by positive performances in mainland markets, with the benchmark CSI 300 rising by 1.33%.
Investors are eagerly anticipating key data releases from Australia and China later in the week. On Tuesday, the Reserve Bank of Australia is expected to announce its rate decision, while China is set to release its trade balance for August on Thursday, followed by its inflation rate next weekend.
Meanwhile, in Japan, the Nikkei 225 climbed by 0.7%, closing at 32,939.18, marking a six-day winning streak and reaching its highest level in over a month. The Topix also finished higher, experiencing a 1.02% increase and marking six consecutive days of gains.
In Australia, the S&P/ASX 200 rebounded by 0.56% and closed at 7,318.8. South Korea’s Kospi also traded 0.81% higher, ending at 2,584.55, its highest level in over two weeks. However, the Kosdaq experienced a marginal decline, closing at 919.16.
In the United States, the three major indexes ended the week on a mixed note as traders evaluated the latest jobs report. According to the report, the US unemployment rate rose to 3.8% in August, reaching its highest level in over a year, contrary to economists’ expectations of it remaining at 3.5%. The Dow Jones Industrial Average rose by 0.33%, the S&P 500 added approximately 0.18%, while the Nasdaq Composite inched down by 0.02%.
Market analysts recommend closely monitoring the key data releases from Australia and China, as they could provide valuable insights into the economic trajectory of the Asia-Pacific region.