Stock market today: Shares mixed in Asia ahead of updates on jobs, inflation
Asian shares are mixed as investors await a slew of U.S. economic data set for release later in the week
TOKYO — Asian shares were mixed Monday as investors awaited a slew of U.S. economic data set for release later in the week.
Japan's benchmark Nikkei 225 shed 0.6% to finish at 33,231.27. Australia's S&P/ASX 200 added 0.7% to 7,124.70. South Korea's Kospi rose 0.5% to 2,516.89. Hong Kong's Hang Seng lost 0.5% to 16,749.07, while the Shanghai Composite edged 0.2% lower to 3,026.43.
China Evergrande's Hong Kong traded shares were up 7% after a Hong Kong court postponed until Jan. 29 a hearing on its plan to restructure its massive debts. The company faces possible liquidation if creditors reject its restructuring plan.
Among the economic updates due this week are data on the job market, including the U.S. government’s closely watched monthly employment report for November.
“Traders prepare for a slew of actionable U.S. economic data scheduled for release this week, poised to be crucial in refining traders’ expectations regarding Federal Reserve policy. The insights garnered from this data may prove pivotal,” said Stephen Innes, managing partner at SPI Asset Management.
Inflation data are also expected this week for several nations in Asia, including Japan, Thailand and the Philippines.
Wall Street finished last week with a fifth straight gain, as the S&P 500 reached its highest level in more than a year, gaining 0.6%.
The Dow Jones Industrial Average closed 0.8% higher, while the Nasdaq composite added 0.6%. Gainers outnumbered decliners by roughly 6-to-1 on the New York Stock Exchange.
The view that the U.S. Federal Reserve is finally done raising interest rates to curtail inflation has been a plus for markets.
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