Hang Seng edged up 0.2%, to 17,120.23, the Shanghai Composite index was 0.1% higher at 2,863.23, the Kospi climbed 1.1% to 2,616.11 and S&P/ASX 200 gained 0.5% to 7,815.60
Asian shares were mixed in calm trading on Monday ahead of big reports this week on the state of the U.S. economy.
Hong Kong’s Hang Seng edged up 0.2%, to 17,120.23 and the Shanghai Composite index was 0.1% higher at 2,863.23.
Markets in Tokyo and Bangkok were shut for holidays.
In Seoul, the Kospi climbed 1.1% to 2,616.11, as shares in Samsung Electronics added 1.1%, tracking gains in Big Tech firms late last week. Taiwan’s Taiex also added 1.1%, while big computer chip maker Taiwan Semiconductor Manufacturing Co. only rose 0.1%, electronics maker Hon Hai Precision Electronics, also known as Foxconn, soared 4.5%.
Australia’s S&P/ASX 200 gained 0.5% to 7,815.60.
Last week started with a jolt, as markets wavered under heavy selling sparked by concerns over whether the U.S. economy may be slowing too quickly. Japanese stocks endured their worst percentage loss since 1987’s Black Monday. But it closed in calm after more big U.S. firms joined the pile reporting better profit for the spring than analysts had anticipated.
The recent run in stronger-than-expected U.S. economic data has aided to push back against recession concerns, with rate expectations now indicating that the U.S. Fed may retain more flexibility in its policy easing process as compared to one that is being forced by higher economic risks, Yeap Jun Rong of IG said in a commentary.
On Friday, the S&P 500 gained 0.5% to end at 5,344.16, coming off its best day since 2022 and cutting its loss after the week’s wild ride to less than 0.1%.
The Dow Jones Industrial Average added 0.1% to 39,497.54, and the Nasdaq composite gained 0.5% to close at 16,745.30.
