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Asia-Pacific equities rise as investors wait for Chinese GDP data

SINGAPORE – Asia-Pacific stocks rose in trading on Monday morning as investors await the release of China’s GDP data.

In Japan, the Nikkei 225 index rose 0.94% at the start of the session while the Topix index added 0.94%.

Japanese exports fell 4.9% from a year earlier in September, according to trade statistics released Monday by the country’s finance ministry.

South Korea’s Kospi also rose 0.65%.

Meanwhile, stocks in Australia edged up, with the S & P / ASX 200 rising around 0.7%.

The largest MSCI index of Asia-Pacific stocks outside of Japan traded 0.26% higher.

Chinese economic data ahead

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

“We expect the data dump will underscore that China’s economic recovery is well underway,” the Commonwealth Bank of Australia strategists wrote in a note.

“Unlike many other economies, China’s economic recovery has been strong. Infection rates have remained low and policymakers have been able to focus on restarting the economy rather than health outcomes,” said the strategists.

Currencies and oil

The US dollar index, which tracks the greenback against a basket of its peers, was last at 93.704 after hitting levels around 93.9 in recent days.

The Japanese yen traded at 105.42 per dollar after seeing levels below 105.3 against the greenback last week. The Aussie dollar changed hands at $ 0.7104 after falling last week from levels above $ 0.715.

Oil prices were higher on the morning of trading hours in Asia, with international benchmark Brent futures edging up to $ 42.97 per barrel. US crude futures rose 0.1% to $ 40.92 per barrel.

What’s in progress:

  • China: Third Quarter Data on GDP, Industrial Production, Retail Sales and Capital Investment for September at 10:00 a.m. HK / SIN

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