SINGAPORE — Shares in Asia-Pacific rose in Monday trade as investors look ahead to Chinese economic data releases due out later today.
South Korea’s Kospi climbed 1.11%, leading gains among the region’s major markets as shares of chipmaker SK Hynix soared more than 4%.
China is set to release a slew of economic data, including industrial production and retail sales for October, at 10:00 a.m. HK/SIN.
Preliminary estimates released Monday showed Japan’s gross domestic product declining an annualized 3% in the July-September quarter, far worse than the median market forecast for a 0.8% contraction, according to Reuters.
The S&P/ASX 200 in Australia gained 0.4%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.35% higher.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.048 following a recent rise from below 94.5.
The Japanese yen traded at 113.77 per dollar, following last week’s weakening from levels below 113 against the greenback The Australian dollar was at $0.7334, having slipped from above $0.74 last week.