An employee works on the assembly line of intelligent machinery at a workshop on March 31, 2024 in Qingzhou, Weifang City, Shandong Province of China.
Vcg | Visual China Group | Getty Images
Asia-Pacific markets climbed Monday as traders look toward the Federal Reserve’s meeting this week, following another hotter-than-expected U.S. inflation reading Friday.
March’s core personal consumption expenditures, excluding food and energy, rose 2.8% from a year ago, and came in ahead of the 2.7% expected by Dow Jones. Personal spending rose 0.8%, ahead of a 0.7% estimate.
In Asia, China’s official purchasing managers index for April is expected Tuesday ahead of the Labor Day holiday on Wednesday, along with Japan’s industrial production and retail sales data from March.
Australia’s S&P/ASX 200 was up 0.55%, rebounding from Friday’s losses.
South Korea’s Kospi rose 0.63%, and the small-cap Kosdaq gained 0.94%.
In contrast, futures for Hong Kong’s Hang Seng index stood at 17,621, pointing to a weaker open compared to the HSI’s close of 17,651.15.
Japan’s markets are closed for a public holiday.