Hong Kong stocks lead Asia-Pacific gains ahead of Donald Trump’s inauguration.
Asia-Pacific markets rose on Monday ahead of Donald Trump’s inauguration as investors awaited greater policy clarity from the new US administration.
Hong Kong’s Hang Seng index rose 2.41% to its highest level since Dec. 31, lifted by consumer cyclicals and the education services sector, LSEG data showed. The CSI 300 index in mainland China added 0.86% after China left its benchmark lending rates unchanged on Monday.
The People’s Bank of China kept the one-year base interest rate at 3.1%, and the five-year LPR at 3.6%. The offshore yuan rallied modestly to 7.3345 against the dollar, while the onshore yuan traded at 7.323 to the US dollar.
Japan’s Nikkei 225 rose 1.19%, while the Topix added 1.16%. South Korea’s Kospi slipped 0.18% and Kosdaq rose 0.48%.
Australia’s S&P/ASX 200 rose 0.46%.
Malaysian exports rose 16.9% year-on-year in December, beating Reuters estimates of 8.8%. That compares with growth of 4.1% in November. The country’s imports rose 11.9 percent, compared with Reuters forecasts of 5.2 percent.
Hong Kong will release unemployment data for the same month later in the day, SEEbiz reports.
Several central banks in Asia will meet later this week. Malaysia’s central bank is expected to keep its benchmark rate at 3% on Wednesday. The Bank of Japan holds its next policy meeting on January 23-24 — BOJ Governor Kazuo Ueda has signaled intentions to raise rates. The Monetary Authority of Singapore will meet on Friday.
