Investing.com - Most Asian stocks traded lower Monday ahead of some key economic data points out of China, but Japanese shares continued to be the region’s leaders, climbing higher once again.
In Asian trading Monday, Japan’s Nikkei 225 rose 1.55% as Japanese exporters got a lift after USD/JPY traversed 102 for the first time since the collapse of Lehman Brothers in 2008.
Earlier Monday, the Bank of Japan said the country’s M2 money supply rose 3.3% last month to JPY844.5 trillion. Economists expected an increase of 3.1%.
Japan’s M3 money stock rose 2.6% to JPY1,142.0 trillion, topping the expected increase of 2.5%. L money stock increased 2% for the year to JPY1,480.2 trillion.
Hong Kong’s Hang Seng fell 0.81% while the Shanghai Composite dropped 0.30% as traders await Chinese data on industrial production, fixed-asset investment and retail sales due to be reported later Monday. China is the world’s second-largest economy behind the U.S.
Australia’s S&P/ASX 200 fell 0.23% ahead of the Chinese data. China is Australia’s largest trading partner. Earlier Monday, the Australian Bureau of Statistics said home loan approvals in the world’s 12th-largest economy rose 5.2% in March, easily topping the expected increase of 4%. Approvals for new homes surged 21% while approvals to buy pre-owned homes rose 4.2%.
Traders appear more focused on the Chinese data and the fact that AUD/USD continues to labor below parity.
New Zealand’s NZSE 50 rose 0.23%. South Korea’s Kospi inched down 0.03% despite the won trading lower against the U.S. dollar. South Korea bulls need the won to weaken against the yen, something the Bank of Korea hopes to facilitate by lowering interest rates, which it did last week.
Singapore’s Straits Times Index dropped 0.13% while S&P 500 slipped 0.28%. The benchmark U.S. index advanced 1.2% last week.
In Asian trading Monday, Japan’s Nikkei 225 rose 1.55% as Japanese exporters got a lift after USD/JPY traversed 102 for the first time since the collapse of Lehman Brothers in 2008.
Earlier Monday, the Bank of Japan said the country’s M2 money supply rose 3.3% last month to JPY844.5 trillion. Economists expected an increase of 3.1%.
Japan’s M3 money stock rose 2.6% to JPY1,142.0 trillion, topping the expected increase of 2.5%. L money stock increased 2% for the year to JPY1,480.2 trillion.
Hong Kong’s Hang Seng fell 0.81% while the Shanghai Composite dropped 0.30% as traders await Chinese data on industrial production, fixed-asset investment and retail sales due to be reported later Monday. China is the world’s second-largest economy behind the U.S.
Australia’s S&P/ASX 200 fell 0.23% ahead of the Chinese data. China is Australia’s largest trading partner. Earlier Monday, the Australian Bureau of Statistics said home loan approvals in the world’s 12th-largest economy rose 5.2% in March, easily topping the expected increase of 4%. Approvals for new homes surged 21% while approvals to buy pre-owned homes rose 4.2%.
Traders appear more focused on the Chinese data and the fact that AUD/USD continues to labor below parity.
New Zealand’s NZSE 50 rose 0.23%. South Korea’s Kospi inched down 0.03% despite the won trading lower against the U.S. dollar. South Korea bulls need the won to weaken against the yen, something the Bank of Korea hopes to facilitate by lowering interest rates, which it did last week.
Singapore’s Straits Times Index dropped 0.13% while S&P 500 slipped 0.28%. The benchmark U.S. index advanced 1.2% last week.