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Stocks in Asia-Pacific are traded higher on Monday because investors assess inflation and recession fears.
The Hang Hong Kong Hang Index led profits in the region, to end the 2.35% day rose at 22,229.52, after trading more than 3% higher in the session. The Hang Seng Tech index appeared 4.71%. Alibaba shares in the city of China rose 3.69% while Meituan rose around 3.48%.
The mainland Chinese market is also obtained. Shanghai’s composite rose 0.88% to close at 3,379.19, and the Shenzhen component rose 1.1% to 12,825.57.
Nikkei 225 Japan rose 1.43% to close at 26,871.27, while Topix rose 1.11% to 1,887.42. In Australia, S&P/ASX 200 rose by almost 2% to 6,706.
Kospi in South Korea rose 1.49% to end the session at 2,401.92, and Kosdaq 2.71% was higher at 770.6.
Russia failed to pay for foreign state debt for the first time in more than 100 years, Bloomberg reported. Foreign reserves of the country’s central bank remain frozen.
At the G-7 Summit, US President Joe Biden and other world leaders announced the $ 600 billion infrastructure program aimed at focusing on major fields such as building a health system and information technology and communication network.
The construction material company James Hardie Industries, who is registered in Australia, sees its shares rising 1.99%. Borne shares rose 2.54%.
In company news, Trip.com will report the first quarter financial results on Monday in the US after being closed by the market. The company’s shares in Hong Kong 6.58% are higher ahead of the announcement.
This weekend, China and Japan will report the purchase manager index data, while Hong Kong will commemorate the 25th anniversary of its surrender. Chinese President Xi Jinping will attend a birthday event, Xinhua’s state media reports during the weekend.
This only highlights the fact that the market will be very volatile until we pass the peak in inflation and the prospects of the central bank to be hawkish like them,” said Kerry Craig, a global market strategy expert at JPMorgan Asset Management.
He said the market tends to be choppy because many central banks in developed countries enter a new cycle for interest rates.
When you have clarity about the path, then you begin to refocus on the fundamental,” he told CNBC’s Squawk Box Asia” on Monday.
Yen Japan was traded on 135.04 per dollar, strengthening from a level above 136 against Greenback last week. The Australian dollar is $ 0.6935.
Futures oil changes slightly in the Asian afternoon trading. U.S. crude oil Right below the flat line at $ 107.61 per barrel, while the international benchmark of the crude oil brevent upgged up 0.19% to $ 113.33 per barrel.
