By Gina Lee
Investing.com – Asia Pacific stocks were mostly up Monday morning after the release of a slew of economic data in the region, as US investors are also gauging how long the US Federal Reserve will continue. with its current accommodative monetary policy.
China was up 0.18% at 10:30 PM ET (2:30 AM GMT) and was up 0.09%.
The, released earlier in the day, was at 50.3 in June, lower than the 55.1 figure reported for the previous month. The Chinese and the data will also be released later in the week.
The China Cyberspace Administration also claimed giant Didi (NYSE 🙂 for its offerings, just days after Didi was listed in New York. Investors will also heed any concerns as the Chinese stock market opened for listing.
Hong Kong was up 0.03%.
Japan was down 0.59%, with June 48 higher than expected.
He was up 0.15% in Australia, 56.8 slightly higher than expected. Australia, meanwhile, grew 0.4% month-on-month better than expected in May.
It must also broadcast its political decision on Tuesday.
South Korea’s rose 0.46%.
US markets are closed for a holiday, but hit a record for a seventh day on Friday after the latest US employment report hinted that the US economy was continuing its recovery from COVID- 19, but not fast enough for the Fed to begin reducing the asset reduction. .
The report said it rose by 850,000 more than expected in June, while it was also higher than expected at 5.9%.
Although the data eased fears that the Fed would act on the aggressive stance it took in June, central banks globally are already beginning to withdraw the unprecedented stimulus unleashed to counter the economic impact of COVID-19.
The RBA is expected to reduce some stimulus in its decision, even as some cities remain on lockdown due to the latest COVID-19 outbreak in the country.
“Market prices are based on the continuation of a scenario that could not be better constructed … investors live with risks that are considered manageable, while the growth and technical configuration of our financial system rewards the capital allocated to risk “he added. Chris Iggo, AXA Investment Managers’ chief investment officer for basic investments, said in a note.
Investors now await the, which expires later in the week. Meanwhile, finance ministers and central bankers from the Group of 20, or G20, will meet in Venice on Friday.
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