South Korea’s Kospi continues to charge higher as it rises more than 2%; China’s inflation data ahead
Stock in Asia-Pacific stocks were mixed as investors regionally await the release of Chinese inflation data for December.
South Korea’s Kospi, which has had a stellar start to 2021 as it jumped nearly 10% in the first trading week of the year, rose 2.35% in early trade.
Elsewhere, the S&P/ASX 200 in Australia declined 0.31%. Energy stocks jumped, with Santos up 4.01% while Beach Energy gained 2.09%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.22% higher.
Markets in Japan are closed on Monday for a holiday.
China’s inflation data for December is expected to be released at around 9:30 a.m. HK/SIN on Monday.
Developments on the coronavirus front will likely continue to be monitored by investors and could weigh on sentiment. In the U.S., nearly 3,000 people are dying every day, on average, of Covid-19.
In Asia, a jump in coronavirus infections has prompted the Japanese government to place multiple areas in the country —including Tokyo — under a state of emergency.
Reference: CNBC
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