China Shenzhen
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Asian markets climbed Monday as investors awaited trade talks between Washington and Beijing later in the day, and digested China inflation data.
Trade tensions are seemingly easing between the world’s top two economies as China has reportedly granted temporary approvals for the export of rare earths, while jetliner Boeing Co has begun commercial jet deliveries to the Asian superpower.
China’s consumer price inflation fell by 0.1% year on year in May, smaller than the 0.2% decline forecast by economists polled by Reuters, while producer price index declined 3.3%, compared to a 3.2% drop expected by analysts.
Mainland China’s CSI 300 index started the day flat while Hong Kong’s Hang Seng Index added 0.86%.
Japan’s benchmark Nikkei 225 advanced 0.91%, while the broader Topix index rose 0.58%.
The country’s GDP contraction for the January to March quarter narrowed to an annualized 0.2%, from the 0.7% print released previously, revised estimates showed.
In South Korea, the Kospi index climbed 1.71% while the small-cap Kosdaq added 0.46%.
Australian markets are closed for a public holiday.
U.S. equity futures were mostly flat in early Asian trade.
All three key benchmarks on Wall Street jumped last Friday, after the non-farm payrolls data came in better-than-expected.
U.S. payrolls climbed 139,000 in May, the Bureau of Labor Statistics reported Friday, above the Dow Jones forecast of 125,000 for the month but less than the downwardly revised 147,000 in April.
The Dow Jones Industrial Average popped 443.13 points, or 1.05%, to close at 42,762.87. The blue-chip index was up more than 600 points at its highs of the session.
Meanwhile, the the broad-based S&P 500 also gained 1.03% — surpassing the 6,000 level for the first time since late February — and settling at 6,000.36, while the Nasdaq Composite rallied 1.20%, to end at 19,529.95.
— CNBC’s Sean Conlon and Jesse Pound contributed to this report.