Nikkei 225, Hang Seng Index, China GDP
Beijing Central Business District, mix of offices and apartments
Ispyfriend | E+ | Getty Images
Asian markets started the week on a positive note as investors awaited key economic data releases from China.
Analysts surveyed by Reuters anticipate a slowdown in China’s economy for the third quarter, with GDP growth expected to be 4.8% year-on-year, down from 5.2% in the previous quarter.
China maintained its benchmark lending rates unchanged, with the one-year loan prime rate staying at 3% as predicted.
Japan’s Nikkei 225 climbed 1.6%, while the Topix index rose by 1.43% at the opening bell.
South Korea’s Kospi index edged up by 0.36% after hitting a record high for the third consecutive day on Friday, with the Kosdaq index also rising by 1.13%.
Hong Kong’s Hang Seng Index futures were trading at 25,863, higher than the previous close of 25,247.1.
Australia’s S&P/ASX 200 index started the day 0.1% lower.
In the United States on Friday, the major stock indices ended the day in positive territory.
The Dow Jones Industrial Average gained as traders processed the U.S.’s more conciliatory stance on trade negotiations with China and moved past concerns about credit that had led to a sharp decline in regional bank stocks the day before.
The Dow closed 238.37 points higher, or 0.52%, at 46,190.61. The S&P 500 rose by 0.53% to 6,664.01, while the Nasdaq Composite added 0.52% to reach 22,679.98.
— CNBC’s Liz Napolitano and Pia Singh contributed to this report.
