Shares in the Asia-Pacific were mostly higher on Monday as China factory activity missed expectations, and markets look ahead to the U.S. Fed meeting later this week.
Hong Kong’s Hang Seng index was up 0.89% while gaming stocks rebounded following news of an e-visa system for Chinese residents traveling to Macao. In mainland China, the Shanghai Composite was little changed and the Shenzhen Component gained 0.654%.
The Nikkei 225 rose 1.68%, and the Topix gained 1.41%. South Korea’s Kospi added about 1% and the Kosdaq was 1.02% higher.
In Australia, the S&P/ASX 200 increased 1.04%. MSCI’s broadest index of Asia-Pacific shares outside Japan was 1.03% higher.
China’s National Bureau of Statistics released its Purchasing Managers’ Index data, with the official manufacturing print coming in at 49.2, missing expectations.
Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.
On Friday in the U.S., major stock indexes jumped 2% each on optimism that inflation may be slowing.