Asia-Pacific markets edge higher; China’s industrial profits rise in August
Stocks in Asia-Pacific traded higher on Monday morning, as investors react to Chinese economic data released over the weekend.
In Japan, the Nikkei 225 added 0.74% in early trade while the Topix index gained 0.76%. South Korea’s Kospi rose 0.98%.
Over in Australia, the S&P/ASX 200 was above the flatline.
Overall, the MSCI Asia ex-Japan index traded 0.1% higher.
Shares of Chinese chipmaker SMIC will be watched by investors following reports that the U.S. has imposed restrictions on exports to the firm, citing risks of military use, according to Reuters.
Emerging markets are heading toward the end of the third quarter with more reasons to be cautious than optimistic. Developing-nation stocks, currencies and bonds had their worst week in the five days through Friday since the coronavirus pandemic rocked global markets in March. The gap between implied volatility in emerging-market currencies and their G-7 peers is at the widest since June amid concerns over renewed lockdown measures and delays to further U.S. fiscal stimulus. Manufacturing reports from China, India, Brazil and South Africa that are being published this week are potentially less decisive for investors than the global sentiment toward risky assets, and investors are bracing for higher price swings around the U.S. November elections.
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