· China shares trade lower even as economic data beats expectations; South Korea leads gains in Asia
Shares in Asia-Pacific were mixed in Monday trade as investors reacted to the latest Chinese economic data for October.
Mainland Chinese stocks were lower, with the Shanghai composite slipping around 0.3% while the Shenzhen component dipped 0.605%. Hong Kong’s Hang Seng index sat fractionally lower.
The losses came despite Chinese economic data coming in better than expected.
Elsewhere, South Korea’s Kospi climbed 1.04%, leading gains among the region’s major markets as shares of chipmaker SK Hynix soared more than 4%.
The S&P/ASX 200 in Australia gained 0.34%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.33% higher.
· Japanese shares end higher on Wall Street, tech stock gains
Japanese shares ended higher on Monday, with technology stocks leading gains, as they took cues from Wall Street’s strong finish last week, which offset concerns about subdued domestic growth data.
The Nikkei share average advanced 0.56% to close at 29,776,80, while the broader Topix rose 0.39% to 2,048.52.
Wall Street stocks closed higher on Friday, with market-leading growth shares, including Apple Inc and Microsoft Corp kick-starting indexes’ climb as investors looked past disappointing U.S. economic data.
· European markets set for flat open, searching for direction
European markets are set for a flat open on Monday as investors search for direction amid a steady drip of economic data and corporate earnings from around the world.
Reference: CNBC, Reuters
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