Asian Markets Rise, All Eyes on Chinese Economic Data
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect China's economic growth to slow in the third quarter to 4.8%, down from 5.2% in the previous quarter. This data will provide important clues to the region's economic direction going forward.
Japan's Nikkei 225 index rose 1.6% and the Topix index gained 1.43% at the open. In South Korea, the Kospi added 0.36% after setting a record for three consecutive days last week. The Kosdaq index, which includes small-cap stocks, also rose 1.13%. Meanwhile, Hang Seng futures in Hong Kong traded at 25,863, up from Friday's close of 25,247.
In contrast to other Asian markets, Australia's S&P/ASX 200 index actually fell slightly by 0.1% in early trading. On Wall Street, all three major US indexes closed higher last Friday. The Dow Jones Industrial Average rose 0.52%, the S&P 500 gained 0.53%, and the Nasdaq Composite added 0.52%. This positive sentiment was fueled by news that US-China trade relations were beginning to improve, as well as easing concerns about US regional banks. (asd)
Source: Newsmaker.id
