On Monday, Tokyo’s Nikkei 225 index rose by 0.8% to close at 39,910.55 as markets resumed activity following a long weekend. Investors showed optimistic reactions to the S&P 500 achieving a record peak in the United States.
The Kospi index in Seoul increased by 0.4% to 2,633.45. Meanwhile, Australia’s S&P/ASX 200 climbed 0.8% to 8,318.40.
Contrarily, shares in China continued to decline after the government released export growth figures for September that fell short of expectations. The Shanghai Composite index decreased by 2.5% to 3,201.29, while the Hang Seng index in Hong Kong dropped by 3.7% to 20,318.79. Investors are looking for more guidance on fiscal stimulus from the Chinese government, but the ongoing uncertainty is causing hesitance in taking risks with Chinese stocks.
Additionally, the yuan saw a dip, mirroring wider trends in the financial markets.
Rise in Tokyo stocks, decline in China
In related developments, Canada’s inflation rate dropped more than anticipated to 1.6% in September, primarily due to the fall in gasoline prices.
Nevertheless, indicators reflecting core inflation remained unchanged. Germany’s DAX rose by 0.3% around midday in Europe, in contrast to a 0.9% drop in the CAC 40 in Paris and a 0.4% decline in Britain’s FTSE 100. The dollar weakened to 149.38 Japanese yen, down from 149.83 yen.
The euro slipped slightly to $1.0903 from $1.0911. This week is expected to have limited high-profile economic reports, except for an update on U.S. retail sales scheduled for Thursday. The main focus will shift to corporate earnings reports, which are set to ramp up this week following the initial reporting from major banks last week.
