Asia markets poised to climb ahead of China rate decision; key Japan data on deck this week
Will Asia Markets Surge on China Rate Hold?
Asia-Pacific markets showed positive movement, tracking gains from Wall Street, as investors anticipated economic data releases across the region. China maintained its loan prime rates, influencing slight gains in Hong Kong's Hang Seng and the mainland Chinese CSI300 indexes. Key data from Japan and decisions on rates in South Korea are expected later in the week, with global eyes also on Taiwan's political transition.
In the U.S., the Dow Jones Industrial Average reached a significant milestone, closing above 40,000 for the first time, driven by optimism in the market. Meanwhile, Thailand reported a stronger-than-expected GDP growth for the first quarter, primarily fueled by service exports and private consumption. However, Chinese property stocks saw a decline after initial gains, reflecting ongoing volatility in the sector.