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Asia-Pacific markets start the week higher

Hang Seng index

Hong Kong’s Hang Seng index added 1.83 per cent, China’s CSI 300 dropped 0.23 per cent, South Korea’s Kospi added nearly 0.75 per cent and Australia’s S&P/ASX 200 added 0.16 per cent

Asia-Pacific markets started the week higher after most major bourses closed lower in the previous session, while China left its benchmark lending rates unchanged.

The People’s Bank of China’s one-year loan prime rate — the peg for most household and corporate loans in China — was at 3.45 per cent. The five-year benchmark loan rate — the peg for most mortgages — stood at 4.2 per cent.

Japan’s Nikkei 225 briefly reached a 33-year high earlier in the session, but struggled to hold on to gains afterwards. The index was 0.08 per cent lower, while the Topix shed 0.31 per cent. Investors will be watching out for Japan’s October inflation data on Friday.

Hong Kong stocks led declines in Asia-Pacific on Friday, as shares of Alibaba slumped after the Chinese e-commerce giant said it would not proceed with the full spinoff of its cloud group.

Hong Kong’s Hang Seng index added 1.83 per cent, while China’s CSI 300 dropped 0.23 per cent.

South Korea’s Kospi added nearly 0.75 per cent, while the small-cap Kosdaq saw a gain of 1.42 per cent.

In Australia, the S&P/ASX 200 added 0.16 per cent.

On Friday, the S&P 500 closed higher and clinched a third consecutive winning week amid a strong November rally.

The broader index gained 0.13 per cent. The Dow Jones Industrial Average closed the day 0.01 per cent higher, while the Nasdaq Composite added 0.08 per cent.

The main U.S. indexes clocked their third consecutive positive week. The S&P 500 gained 2.2 per cent, while the Nasdaq climbed nearly 2.4 per cent. The Dow ended the week with a 1.9 per cent gain. This is the first three-week win streak for the Dow and S&P 500 since July, and the first since June for the Nasdaq.

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