Asia-Pacific stocks rise; China October economic data releases ahead - CNBC

SINGAPORE — Shares in Asia-Pacific rose in Monday morning trade as investors look ahead to Chinese economic data releases expected later in the day.

The Nikkei 225 in Japan rose 0.61% in early trade as shares of conglomerate SoftBank Group jumped 2%. The Topix index gained 0.65%.

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.

South Korea's Kospi climbed 0.39% while the S&P/ASX 200 in Australia gained 0.29%.

MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.15% higher.

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.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.136 following a recent rise from below 94.5.

The Japanese yen traded at 113.97 per dollar, following last week's weakening from levels below 113 against the greenback The Australian dollar was at $0.7332, having slipped from above $0.74 last week.

Stock picks and investing trends from CNBC Pro:

UBS ran a simulation that shows stocks could lose up to 50% under rare stagflation scenario

This global tech stock is up 70% this year and Goldman says there's more room to run

Notable insiders like Elon Musk and Adam Aron are selling. Should you follow them?

Oil prices rose in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.22% to $82.35 per barrel. U.S. crude futures gained 0.3% to $81.03 per barrel.

Adblock test (Why?)

Article From & Read More ( Asia-Pacific stocks rise; China October economic data releases ahead - CNBC )
https://ift.tt/3wNjxJd
Business