Beijing Central Business District, mix of offices and apartments
Ispyfriend | E+ | Getty Images
Asia-Pacific markets opened higher Monday ahead of a slew of economic data coming out of China.
Analysts polled by Reuters expect China’s economy to have slowed in the third quarter, forecasting gross domestic product to have grown 4.8% in the July-to-September period from a year ago, easing from 5.2% in the previous quarter[1].
China kept its benchmark lending rates unchanged, in line with expectations, with the one-year loan prime rate at 3%.
Japan’s Nikkei 225[2] rose 1.6%, while the Topix added 1.43% at the open.
South Korea’s Kospi added 0.36% after hitting a record high for the third straight day last Friday, while the small-cap Kosdaq climbed 1.13%.
Hong Kong’s Hang Seng Index[3] was up over 2%, while the mainland’s CSI 300 rose 0.74%.
Australia’s S&P/ASX 200[4] started the day 0.1% lower.
Last Friday in the U.S., the three major averages closed higher.
The Dow Jones Industrial Average rose Friday as traders digested the U.S.′ softening tone on its trade talks with China and tried to move past credit concerns that sparked a big sell-off in regional banks Thursday stateside.
The Dow[5] finished 238.37 points, or 0.52%, higher at 46,190.61. The S&P 500[6] settled up 0.53% at 6,664.01, while the Nasdaq Composite[7] added 0.52% to finish at 22,679.98.
— CNBC’s Liz Napolitano and Pia Singh contributed to this report.
References
- ^ 5.2% in the previous quarter (www.cnbc.com)
- ^ Nikkei 225 (www.cnbc.com)
- ^ Hang Seng Index (www.cnbc.com)
- ^ S&P/ASX 200 (www.cnbc.com)
- ^ Dow (www.cnbc.com)
- ^ S&P 500 (www.cnbc.com)
- ^ Nasdaq Composite (www.cnbc.com)