Australia Markets Rebound as Hong Kong Cancels Morning Session; China Falls After Golden Week


Asia-Pacific markets are mixed to start to the week as Chinese markets come back from a week-long Golden Week holiday.

Investors will be watching inflation readings and trade data out from China and India later this week, as well as a monetary policy decision from Singapore’s central bank.

Japan and South Korea’s markets are closed Monday for a holiday.

In Australia, the S&P/ASX 200 was up 0.23% to end at 6,970.2, snapping a five-day losing streak. This comes after the index fell below the 7,000 mark for the first time since March on Friday.

Hong Kong’s Hang Seng index fell 0.04% in its final hour of trade for the afternoon, after trading was canceled for the morning due to the city’s Signal 8 typhoon warning for Typhoon Koinu. That warning was downgraded at 11:40 a.m, allowing the afternoon session to proceed at 2 p.m.

Meanwhile, mainland Chinese markets weakened, with the benchmark CSI 300 index falling about 0.13% and closing at 3,684.73 after the Golden Week.

On Friday in the U.S., all three major indexes rallied after the release of stronger-than-expected U.S. jobs data and a pop in Treasury yields.

The Dow Jones Industrial Average gained 0.87%, while the S&P 500 added 1.18%. The tech-heavy Nasdaq Composite posted the largest gains, climbing 1.6%.

Traders will be watching the market reaction however, after Palestinian militants launched an unprecedented surprise attack on Israel over the weekend.

Source : CNBC