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Shares in Asia-Pacific were higher Monday morning as investors reacted to Chinese economic data released over the weekend.
In Japan, the Nikkei 225 added 0.74% in early trading, while the Topix index gained 0.76%. South Korea’s Kospi rose 0.98%.
In Australia, the S & P / ASX 200 was above the flat line.
Overall, the MSCI Asia ex-Japan index was up 0.1%.
Shares of Chinese chipmaker SMIC will be watched by investors following reports that the United States has imposed export restrictions on the company, citing risks of military use, according to Reuters.
China’s industrial profits rose 19.1% in August, the country’s National Bureau of Statistics announced over the weekend. Investors have watched Chinese economic data for signs of the country’s continued recovery from the coronavirus pandemic.
Meanwhile, the situation surrounding the pandemic elsewhere could also affect investor sentiment. Europe now faces the prospect of a double dip recession as it grapples with a second wave of coronavirus. In the U.S., daily new coronavirus cases topped 1,000 in New York state on Saturday, the first time new infections in the state passed the 1,000 mark since early June.
Coins and oil
The US dollar index, which tracks the dollar against a basket of its peers, was at 94.54 after rising from levels below 93.0 last week.
The Japanese yen was trading at 105.56 per dollar after weakening last week from levels below 105 against the dollar. The Australian dollar changed hands at $ 0.7036 after falling from levels above $ 0.72 last week.
Oil prices fell in the morning of Asian business hours, with international benchmark Brent crude futures falling 0.26% to $ 41.81 a barrel. US crude futures also lost 0.42% to $ 40.08 a barrel.
– CNBC’s Yun Li contributed to this report.
