Asian Shares Trade Mostly Higher After Wall St. Snaps Losing Streak

Asian markets rose Monday after Wall Street snapped a three-day losing streak, trimming last week’s losses, Elaine Kurtenbach reported for the Associated Press (AP).

Chinese markets led gains, with Hong Kong’s Hang Seng climbing 2% to 26,652.90 and the Shanghai Composite up 0.9% at 3,862.53. (Photo: HKEX)

China factory data are due Tuesday, while the Bank of Japan releases its quarterly business sentiment survey Wednesday.

Chinese markets led gains, with Hong Kong’s Hang Seng climbing 2% to 26,652.90 and the Shanghai Composite up 0.9% at 3,862.53. Australia’s S&P/ASX 200 advanced 0.9% to 8,862.80, while South Korea’s Kospi surged 1.3% to 3,431.21.

On Friday, U.S. stocks recovered part of their weekly decline after data showed inflation roughly in line with forecasts, though still above the Federal Reserve’s 2% target.

The S&P 500 rose 0.6% to 6,643.70. The Dow Jones Industrial Average added 0.7% to 46,247.29, and the Nasdaq composite gained 0.4% to 22,484.07 — all moving back toward record highs set earlier in the week.

Markets are also watching Washington, where a potential U.S. government shutdown looms this week, though such political standoffs have historically had limited impact on equities.