Photo taken on January 21, 2024 shows a real estate project under construction in Huai ‘an city, Jiangsu province, China.
CFOTO | Future Publishing | Getty Images
Asia-Pacific markets rebounded from Friday’s sell-off as investors look to fresh data points out of China, Japan and South Korea this week.
On Friday, markets in the region tumbled after Israel launched a strike at Iran, causing stocks to fall and safe-haven assets to climb.
On Monday, investors will monitor China’s one-year and five-year loan prime rates. The five-year LPR will be closely watched, as it acts as the peg for most property mortgages.
Japan’s Nikkei 225 popped 0.86% at the open, with the broad based Topix seeing a larger gain of 1.44%.
South Korea’s Kospi also rose 1.13%, while the small cap Kosdaq advanced 1.04%.
In Australia, the S&P/ASX 200 started the week 0.64% higher.
Futures for Hong Kong’s Hang Seng index stood at 16,331, pointing to a positive open compared to the HSI’s close of 16,224.14.
On Friday in the U.S., the Nasdaq Composite and S&P 500 fell for a sixth straight session, notching their longest losing streak since October 2022.
The downtrend comes as Nvidia dived, adding to recent market woes tied to geopolitical conflicts and sticky inflation.
In contrast, the Dow Jones Industrial Average rose 0.56%, lifted by a rally of more than 6% in American Express following earnings.
— CNBC’s Yun Li and Alex Harring contributed to this report.