Asia Markets: Stocks, economic growth, earnings
SINGAPORE — Shares in the Asia-Pacific region traded higher early on Monday as global concerns continue to plague markets.
In Japan markets, the Nikkei 225 rose 0.94%, while the Topix climbed 0.85%.
Australia’s S&P/ASX 200 advanced 0.32%.
The Kospi in South Korea was 0.44% higher, while the Kosdaq was up 0.34%.
Chinese electric vehicle maker Xpeng is set to report its first-quarter earnings on Monday.
Stocks stateside have been taking a battering as markets grow fearful about whether there will be a recession.
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In the US, the S&P 500 briefly fell into bear market territory during Friday’s session, but recovered slightly to close almost flat. The Dow Jones Industrial Average rose 8.77 points to 31,261.90 after reversing losses of more than 600 points.
The Nasdaq Composite is already deep in bear market territory, 30% off its highs, and fell 0.3% on Friday. All three indexes have posted at least a seven-week losing streak.
The US dollar index, which tracks the greenback against a basket of its peers, was at 102,919, lower compared to the levels above 103 seen last week.
The Japanese yen traded at 127.82 per dollar, stronger than the 129 levels early last week. The Australian dollar strengthened and was last at $0.7075.