Asian markets mostly higher as investors better understand China’s modest growth target and ah
Japan +1.11%. A survey by the Japan Federation of Trade Unions found that the country’s labor unions, on average, asked for a 4.49% pay rise for 2023, according to a release Friday.
China -0.21%. China’s growth targets announced over the weekend “are not a surprise, but possible feeling disappointed for some investors,” Citi’s chief China economist Xiangrong Yu and his team said in a note on Monday.
Hong Kong +0.46%.
Australia +0.62%. Australia monthly MI inflation for February +0.4% monthly (previously +0.9%).
The Reserve Bank of Australia is expected to raise its overnight cash rate by 25 basis points to 3.6%, according to economists surveyed by Reuters.
India +1.07%.
Friday on Wall Street, Major stock indexes end the week higher as Treasury yields fell from recent highs and investors weighed the cumulative impact of the Fed rallies that were made and absorbed this week’s comments from the central bank. The Dow Jones Industrial Average rose 387.40 points, or 1.17%, to 33,390.97. S&P500 rose 1.61% to 4,045.64 and the Nasdaq Composite added 1.97% to close at 11,689.01.
U.S. nonfarm payrolls will be the main focus this week with hiring expectations cooling, prompting the Federal Reserve to maintain a smaller pace of rate hikes.
New Zealand – ANZ Commodity Price Index for February +1.3% monthly (previously -1.0%).
Korea’s February CPI increased at the slowest pace since April 2022.
Oil prices opened lower on Monday after China set a modest target for economic growth this year of around 5%, well below market expectations for the oil consumer’s 5.5% growth. second largest in the world.
Brent Crude Oil Futures was trading down 50 cents, or 0.6%, at $85.33 a barrel by 0147 GMT. West Texas Intermediate USA (WTI) crude oil futures fell 46 cents, or 0.6%, at $79.22 a barrel.
Gold prices fell on Monday as central banks pointed to further rate hikes to tame high inflation, denting bullion’s appeal as a hedge against bullion.
spot gold fell 0.1% to $1,853.99 an ounce, by 03:05 GMT, after climbing to its highest level since Feb. 15 on Friday. US gold futures contract up 0.3% to $1,859.90.
Gold prices fell on Monday as central banks pointed to further rate hikes to tame high inflation, denting bullion’s appeal as a hedge against bullion.
spot gold fell 0.1% to $1,853.99 an ounce, by 03:05 GMT, after climbing to its highest level since Feb. 15 on Friday. US gold futures rose 0.3% to $1,859.90.
US futures are mostly higher. Dow Jones index -0.03%; S&P 500 +0.06%; Nasdaq +0.18%.
