Hong Kong’s Hang Seng index led gains in the region on Monday, powered by a surge in property stocks as other Asia-Pacific markets were mixed to start the week
The HSI jumped 2.46% in its final hour of trade, while mainland markets were also in positive territory, with the benchmark CSI 300 up 1.52% and closing at 3,848.95.
Investors will look to key data from Australia and China later in the week, such as the Reserve Bank of Australia’s rate decision on Tuesday, while China is expected to release its trade balance for August on Thursday and its inflation rate next weekend.
Japan’s Nikkei 225 also climbed 0.7% to close at 32,939.18, marking a six day winning streak and its highest level in over a month. The Topix finished 1.02% higher at 2,373.73, also marking six straight days of gains.
In Australia, the S&P/ASX 200 rebounded to 0.56% and ended at 7,318.8, while South Korea’s Kospi traded 0.81% up to end at 2,584.55 — its highest level in over two weeks. However, the Kosdaq was down marginally, closing at 919.16.
On Friday in the U.S., the three major indexes ended mixed as traders weighed the latest U.S. jobs report, which showed that unemployment ticked higher to 3.8% in August, reaching its highest level in more than a year. Economists had expected it to remain at 3.5%.
The Dow Jones Industrial Average rose 0.33%, while the S&P 500 added roughly 0.18%. The Nasdaq Composite inched down 0.02%.
