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Asian share markets got off to a slow start on Monday as holidays in China and Japan crimped volumes and investors awaited a raft of data this week which should show the U.S. leading a global economic recovery.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was all but flat after taking a bit of a spill on Friday. Japan's Nikkei (.N225) was shut for a holiday, but Nikkei futures edged up 0.2%.

Wall Street extended its bull run with Nasdaq futures and S&P 500 futures both up 0.3%.

A busy week for U.S. economic data is expected to show resounding strength, particularly for the ISM manufacturing survey and April payrolls. Forecasts are that 978,000 jobs were created in the month as consumers spent their stimulus money and the economy opened up more.

Such gains could stir speculation of a tapering in asset purchases by the Federal Reserve, though Chair Jerome Powell has shown every sign of staying patient on policy.

 

·         Hong Kong leads losses in Asia-Pacific as investors watch Covid situation in India; China and Japan markets closed

Stocks in Asia-Pacific slipped in Monday trade, with major markets in China and Japan closed for holidays.

In Hong Kong, the Hang Seng index led losses among the region’s major markets as it fell 1.48% by the afternoon.

South Korea’s Kospi shed 0.19% in afternoon trade. Over in Australia, the S&P/ASX 200 sat below the flatline.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.7%.

Investors in Asia-Pacific continued monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Over the weekend, more than 400,000 daily new cases were registered for the first time.

Markets in China, Japan and Thailand are closed on Monday for holidays.

·         European stocks rose on Monday morning on the first trading day of May, with the U.K. closed for the public holiday.

 

Germany’s DAX and France’s CAC 40 were trading 0.8% and 0.6% higher, respectively, while Italy’s FTSE MIB was trading 0.8% higher.

 

 

Reference: CNBC, Reuters