fbpx

Asia-Pacific markets gain as investors monitor recession fears

Soegeefx AppsAsia MarketAsia-Pacific markets gain as investors monitor recession fears

Key Points

  • Shares in the Asia-Pacific traded higher on Monday as investors assess inflation and recession fears.
  • In company news, Trip.com is set to report its first-quarter financial results on Monday in the U.S. after the market close.
  • Russia defaulted on foreign-currency sovereign debt for the first time in more than 100 years, Bloomberg reported. The country’s central bank foreign reserves remain frozen.

A man walks past the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020.

Toru Hanai | Bloomberg via Getty Images

SINGAPORE — Shares in the Asia-Pacific traded higher on Monday as investors assess inflation and recession fears.

Japan’s Nikkei 225 jumped nearly 1% in early trade, while the Topix rose 0.94%.

In Australia, the S&P/ASX 200 advanced 0.41%.

The Kospi in South Korea gained 0.91%, and the Kosdaq was 1.28% higher.

MSCI’s broadest index of Asia-Pacific shares rose 0.28%.

Russia defaulted on foreign-currency sovereign debt for the first time in more than 100 years, Bloomberg reported. The country’s central bank foreign reserves remain frozen.

In company news, Trip.com is set to report its first-quarter financial results on Monday in the U.S. after the market close.

Later this week, China and Japan will be reporting Purchasing Managers’ Index data, while Hong Kong will commemorate the 25th anniversary of its handover. China’s President Xi Jinping is expected to visit Hong Kong for the occasion, state media Xinhua reported over the weekend.

Stock picks and investing trends from CNBC Pro:

JPMorgan midyear outlook shocker sees S&P 500 roundtrip to new record

‘Strong growth ahead’: Bank names its top EV battery stocks, giving one over 60% upside

Wharton’s Jeremy Siegel tells investors they ‘won’t be sorry’ in a year if they start deploying cash

On Friday in the U.S., stocks rallied to snap losing streaks. But futures fell slightly on Sunday night following last week’s comeback.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
.N225 Nikkei 225 Index *NIKKEI 26730.31 238.34 0.9
.HSI Hang Seng Index *HSI 21719.06 0 0
.AXJO S&P/ASX 200 *ASX 200 6669.4 90.7 1.38
.SSEC Shanghai *SHANGHAI 3349.49 -0.26 -0.01
.KS11 KOSPI Index *KOSPI 2392.11 25.51 1.08
.FTFCNBCA CNBC 100 ASIA IDX *CNBC 100 8206.17 49.93 0.61

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 103.980.

The Japanese yen traded at 135.09 per dollar, and the Australian dollar was at $0.6951.

Oil futures fell in Asia in early trade on Monday. U.S. crude dropped 1.25% to $106.27 per barrel, while international benchmark Brent crude slid 1.1% to $111.88 per barrel.

Source : CNBC

You might also like

Leave a Reply




Enter Captcha Here :