Mainland China’s CSI 300 gained 1.9% to close at 3,691.3, Taiwan markets rose 0.32% to settle at 22,975.29, while Kospi added more than 1% to close at 2,623.29
Asia-Pacific markets mostly gained Monday, as investors assessed China’s weekend press briefing and awaited a slew of economic data this week from the region.
Mainland China’s CSI 300 gained 1.9% to close at 3,691.3, following a choppy trading session. Hong Kong’s Hang Seng index slid 0.9% as of its final hour of trade.
Both indexes swung between gains and losses in the intraday trading, underscoring investors’ mixed reaction to China’s stimulus promises.
The Hang Seng Mainland Properties Index added 2.5%, while the Hang Seng Tech index declined 1.7%.
China’s Minister of Finance Lan Fo’an in a press briefing on Saturday hinted at more debt issuance amid efforts to shore up the economy, stating the government had a “rather large” space to increase deficit.
China’s deflation concerned deepened in September with consumer prices rising at their slowest pace in three months at 0.4% from a year earlier, while the PPI declined at the fastest pace in six months, down 2.8%. China is set to release its trade data for September on Monday, with exports expected to increase 6%, a slower growth than 8.7% in August, while imports are estimated to rise 0.9%, compared to 0.5% in August.
China watchers also look ahead to the week with a busy set of economic data, including China’s Q3 GDP, September industrial output growth, retail sales and unemployment rate.
Japan’s market was shut for a holiday.
Australia’s S&P/ASX 200 added 0.47% to close at 8,252.8.
Taiwan markets rose 0.32% to settle at 22,975.29.
South Korea’s blue-chip index Kospi added more than 1% to close at 2,623.29 while the small-cap Kosdaq index closed nearly flat at 770.26.
