- Shares in Asia-Pacific were higher on Monday, with Japanese stocks leading gains regionally.
- China is set to announce its official manufacturing Purchasing Managers' Index for May on Tuesday, while U.S. jobs data is expected Friday.
- Markets in the U.S. are closed on Monday for a holiday.
SINGAPORE — Shares in Asia-Pacific rose on Monday as investors look ahead to major economic data releases later in the week.
Japanese stocks led gains among the region's major markets, with the Nikkei 225 rising 2.19% on the day to 27,369.43 as shares of robot maker Fanuc jumped 4.66%. The Topix index surged 1.86% to 1,922.44.
Hong Kong's Hang Seng index also saw robust gains, closing 2.06% higher at 21,123.93 as Chinese tech stocks in the city jumped: Tencent rose 2.4%, Alibaba surged 4.29% while Netease advanced 2.58%. Over in mainland China, the Shanghai Composite closed 0.6% higher at 3,149.06 while the Shenzhen Component rose 1.043% to 11,310.28.
MSCI's broadest index of Asia-Pacific stocks outside Japan gained 2.07%.
Regional investor sentiment on Monday may have been boosted by a relaxation of Covid controls over the weekend in the major Chinese cities of Beijing and Shanghai.
Several major data releases are expected later in the week. China is set to announce its official manufacturing Purchasing Managers' Index for May on Tuesday, with investors looking for clues on the economic impact of Covid-related lockdowns on the mainland.
"For the week ahead, watch for the PMIs especially from China which may show a modest rebound from April's slump but stay in contraction territory," analysts at OCBC Treasury Research wrote in a Monday note.
U.S. jobs data is expected Friday. Markets in the U.S. are closed on Monday for a holiday.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.609 following a recent drop from levels above 102.
The Japanese yen traded at 127.29 per dollar, stronger as compared with levels above 127.8 seen against the greenback last week. The Australian dollar was at $0.7175 after a climb last week from below $0.71.