Asia markets largely rise after Wall Street rebounds on Friday

Asia-Pacific markets largely rose on Monday after Wall Street snapped a four-day losing streak Friday. The only outlier was Japan, which saw the Nikkei 225 fall 0.66% and the Topix down 0.22% despite its services sector seeing a record pace of expansion in April, the au Jibun Bank Japan services purchasing managers’ index showed. Minutes from Japan’s March monetary policy meeting showed board members were concerned over inflation accelerating at a higher-than-expected pace. The Shanghai Composite led gains in the region and gained 1.9%, while the Shenzhen Component was 0.3% up. In Australia, the S&P/ASX 200 rose 0.69% as financials and miners led gains. South Korea’s Kospi rose 0.84% and the Kosdaq was up 0.21%. Hong Kong’s Hang Seng index climbed 0.8%, powered by energy and healthcare stocks. In the U.S., all three major indexes rebounded Friday, ending largely higher as banks rallied and Apple posted better-than-expected earnings. The Dow Jones Industrial Average up 1.65%. The S&P 500 climbed 1.85% and the Nasdaq Composite saw the largest gains, advancing 2.25%. The U.S. is also slated to report its latest consumer price index data for the month of April.