Asia-Pacific stocks rise ahead of key economic data this week
SINGAPORE — Shares in Asia-Pacific rose Monday morning as investors anticipate major economic data releases later in the week.
In Japan, the Nikkei 225 rose 1.21% in early trade, as shares of robot maker Fanuc jumped more than 2%. The Topix index was trading up 1.01%.
South Korea’s Kospi also climbed 1.07%, while Australia’s S&P/ASX 200 edged up 0.31%.
MSCI’s broadest index of Asia-Pacific stocks outside Japan traded up 0.28%.
Several major data releases are expected later in the week. China is set to announce its official Manufacturing Purchasing Managers Index for May on Tuesday, with investors looking for clues on the economic impact of Covid-related lockdowns on the mainland.
US jobs data is due Friday. Markets in the United States are closed on Mondays for a public holiday.
The Japanese yen was trading at 127.27 to the dollar, stronger than levels above 127.8 seen against the greenback last week. The Australian dollar was at $0.7158 after rising below $0.71 last week.