Asia-Pacific markets were mixed after U.S President Joe Biden and congressional leaders reached a tentative deal to raise the debt ceiling over the weekend. The bill is expected to be voted on later this week.
In Japan, the Nikkei 225 roared 317.23 points, or 0.4%, to end the week’s last session at 31,233.54.
Japan’s unemployment rate for April will be released as well as Australia’s building approvals for the same month on Tuesday. Thailand’s industrial production for April will also be released.
In Hong Kong, the Hang Seng returned to trading after a long weekend, but shed 195.81 points, or 1%, to 18,551.11.
On Monday, Hong Kong’s trade data for April will be published after the region saw a contraction of 0.6% in imports and a contraction of 1.5% in exports in March.
South Korea’s industrial production for April on Wednesday is expected to show a further decline of 7.9% in April, according to economists surveyed by Reuters.
Australian markets gained ground and continue a rally that started on Friday.
CHINA
In China, the CSI 300 index fell 17.01 points, or 0.4%, to 3,833.94.
China’s purchasing managers’ index readings for May alongside the Bank of Thailand’s meeting and South Korea’s inflation and gross domestic product reports will be in focus this week.
China’s National Bureau of Statistics will publish the economy’s purchasing managers index for May. Economists surveyed by Reuters expect the reading to remain under the 50-mark that separates contraction and growth at 49.4, after April’s reading of 49.2.
In other markets
Markets in Korea were shuttered for holiday.
In Singapore, the Straits Times index handed back 12.17 points, or 0.4%, to 3,195.22.
In Taiwan, the Taiex index added 131.25 points, or 0.8%, to 16,635.30.
In New Zealand, the NZX 50 recovered 105.62 points, or 0.9%, to 11,935.65.
In Australia, the ASX 200 picked up 62.62 points, or 0.9%, to 7,217.37.
