Doctoregg | Moment | Getty Images
Asia-Pacific markets traded mostly higher Monday, as investors parsed Japan’s fourth-quarter economic growth data, while awaiting a slew of central bank decisions from the region this week.
Japan’s Nikkei 225 traded around the flatline, while the Topix added 0.15%. South Korea’s Kospi added 0.18% andthe small-cap Kosdaq added 0.35%.
Japan’s economic expansion in the fourth quarter beat analysts’ expectations for quarter-on-quarter and annualized growth, preliminary government data showed Monday. On an annualized basis, GDP grew 2.8%, exceeding the Reuters estimates of 1%.
The Japanese yen strengthened to trade at 151.95 against the greenback.
Australia’s S&P/ASX 200 slipped 0.64%.
Hong Kong’s Hang Seng index rose 1.49%. The Hang Seng Tech Index, which tracks the 30 biggest technology firms listed in Hong Kong, rose 1.73%. Mainland China’s CSI 300 climbed 0.34%
Thailand is also slated to release their fourth-quarter GDP data later in the day.
The Reserve Bank of Australia has kickstarted its two-day meeting which could see an interest rate cut on Tuesday. Indonesia and New Zealand’s central banks are also expected to announce their rate decisions on Wednesday.
In the U.S., the three major averages closed mixed Friday. The Dow Jones Industrial Average shed 165.35 points, or 0.37%, closing at 44,546.08. The S&P 500 ticked down 0.01% to 6,114.63, and the Nasdaq Composite added 0.41% to close at 20,026.77.
On a weekly basis, the three major averages logged gains, as sentiment improved following more certainty around U.S. President Donald Trump‘s tariff plans, while new inflation data turned out to be more constructive than first expected. Traders also shrugged off data on Friday showing a 0.9% slump in retail sales for January, worse than the 0.2% decline anticipated by Dow Jones.
—CNBC’s Pia Singh and Lisa Kailai Han contributed to this report.
