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Asia-Pacific stocks rise as investors expect data on China’s GDP



SINGAPORE – Shares in the Asia-Pacific region rose on Monday morning, when investors expect the release of data on China’s GDP.

Hong Kong’s Hang Seng index jumped 1.47% at the beginning of trading, and HSBC shares listed in the city gained more than 3%.

Shares of Alibaba in Hong Kong rose more than 1.5%. The financial technology subsidiary of Chinese technology giant Ant Group has received approval from the China Securities Regulatory Commission for the Hong Kong portion of its expected list, a CNBC source said.

Meanwhile, Sun Art Retail Group shares rose more than 28% after Alibaba announced its agreement to acquire a controlling stake in the company.

In Japan, the Nikkei 225 rose 1

.22% in morning trading, while the Topix index added 1.42%.

Japan’s exports fell 4.9% year-on-year in September, according to trade statistics released by the country’s finance ministry on Monday.

South Korea’s Cospi also advanced 0.74%.

Meanwhile, shares in Australia rose higher, and the S&P / ASX 200 rose about 1.1%.

The broadest ATP share index outside of Japan is trading at 0.9%.

Chinese economic data ahead

On Monday, investors will focus on China’s GDP for the third quarter, as well as data on industrial production and retail sales for September.

“We expect data collection to indicate that China’s economic recovery continues,” wrote the Commonwealth Bank of Australia strategists.

“Unlike many other economies, China’s economic recovery has been strong. The level of infection has remained low, and politicians could focus on resetting the economy rather than on health outcomes,” the strategists said.

Currencies and oil

The US dollar index, which tracks the exchange rate against a basket of its peers, was last at 93,676 after touching about 93.9 in recent days.

The Japanese yen traded at 105.42 per dollar after seeing a level below 105.3 against the green dollar last week. The Australian dollar changed its position by 0.7101 dollars after falling last week from above 0.715.

Oil prices changed little in the morning during the Asian trading hours, while international base futures for Brent crude oil rose in part to $ 42.95 per barrel. US oil futures exceeded levels.

What’s on tap:

  • China: Third quarter GDP, industrial production, retail and fixed capital investment in September at 10:00 HK / SIN

– Arjun Harpal from CNBC took part in this report.


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