Investing.com– Most Asian stocks rose on Monday, extending a rebound from last week amid growing hopes that concerns over a U.S. recession were overblown, with focus turning squarely to a string of key inflation readings this week.
Chinese markets lagged their peers, having mostly missed last week’s rebound rally amid persistent concerns over an economic slowdown in the country. A string of key June quarter earnings are also due this week.
A market holiday in Japan made for softer trading volumes in Asia, although Nikkei 225 Futures still rose.
Regional markets took positive cues from a strong Friday close on Wall Street, which saw U.S. stock benchmarks erase all of their losses logged last week. U.S. stock index futures fell slightly in Asian trade.
Focus this week is largely on U.S. consumer price index data, due Wednesday, for more cues on when the Federal Reserve will begin trimming interest rates. Investors are split over a 25 and 50 basis point cut in September.
South Korea’s KOSPI was the best performer in Asia, up 0.9% on gains in technology stocks.
Australia’s ASX 200 rose 0.5%, while most Southeast Asian markets rose slightly.
Chinese stocks lag, major earnings on tap
China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes moved in a flat-to-low range on Monday, while Hong Kong’s Hang Seng index fell 0.2%.
Sentiment towards China remained constrained by persistent concerns over a slowing economic recovery in the country, especially following a string of weak readings for July.
