Investing.com - Most Asian bourses rose Monday, riding a wave of solid economic data points from the world’s largest economies to add to global risk appetite.
In Asian trading Monday, Japan’s Nikkei 225 jumped 0.81% even after USD/JPY traded modestly lower. The Bank of Japan said that Japan’s monetary base unexpectedly declined to 10.9% in January from 11.8% in December. Analysts expected Japan’s to rise to 13.2% in January.
Hong Kong’s Hang Seng climbed 0.51% while the Shanghai Composite surged 0.58% after the National Bureau of Statistics and China Federation of Logistics & Purchasing said China’s non-manufacturing Purchasing Managers’ Index climbed to 56.2 in January from 56.1 in December. Readings above 50 indicate expansion.
Despite the positive news out of China, Australia’s S&P/ASX 200 Index fell 0.1% after a report released by Australian Bureau of Statistics said that approvals to build new homes fell by a seasonally adjusted 4.4% in December, from 3.4% in the prior month. November's reading was revised up from 2.9%. Analysts had expected Australian Building Approvals to fall to 1.0% last month.
China is Australia’s largest trading partner. Traders may else be looking ahead to the Reserve Bank of Australia meeting tomorrow. It is not expected that RBA will cut rates at this meeting, though that possibility has not been ruled out, either.
South Korea’s Kospi dipped 0.04% after Bank of Korea board member Moon Woo Sik said he favors keeping interest rates where they are far now. Traders may not like that news because a weaker Japanese yen is seen as problematic for South Korean automobile and electronics makers and other manufacturers there.
New Zealand’s NZSE 50 added 0.03% on news that commodities prices rose for a sixth straight month in January. However, those gains were sapped by a strong kiwi.
Singapore’s Straits Times Index added 0.64% while S&P 500 futures fell 0.04%.
In Asian trading Monday, Japan’s Nikkei 225 jumped 0.81% even after USD/JPY traded modestly lower. The Bank of Japan said that Japan’s monetary base unexpectedly declined to 10.9% in January from 11.8% in December. Analysts expected Japan’s to rise to 13.2% in January.
Hong Kong’s Hang Seng climbed 0.51% while the Shanghai Composite surged 0.58% after the National Bureau of Statistics and China Federation of Logistics & Purchasing said China’s non-manufacturing Purchasing Managers’ Index climbed to 56.2 in January from 56.1 in December. Readings above 50 indicate expansion.
Despite the positive news out of China, Australia’s S&P/ASX 200 Index fell 0.1% after a report released by Australian Bureau of Statistics said that approvals to build new homes fell by a seasonally adjusted 4.4% in December, from 3.4% in the prior month. November's reading was revised up from 2.9%. Analysts had expected Australian Building Approvals to fall to 1.0% last month.
China is Australia’s largest trading partner. Traders may else be looking ahead to the Reserve Bank of Australia meeting tomorrow. It is not expected that RBA will cut rates at this meeting, though that possibility has not been ruled out, either.
South Korea’s Kospi dipped 0.04% after Bank of Korea board member Moon Woo Sik said he favors keeping interest rates where they are far now. Traders may not like that news because a weaker Japanese yen is seen as problematic for South Korean automobile and electronics makers and other manufacturers there.
New Zealand’s NZSE 50 added 0.03% on news that commodities prices rose for a sixth straight month in January. However, those gains were sapped by a strong kiwi.
Singapore’s Straits Times Index added 0.64% while S&P 500 futures fell 0.04%.