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Asian stock markets rebounded on Monday. The strong first-quarter economic growth data of the US pushed the S&P 500 index to a record high. The stock market rebound was also supported by Chinese data. The data showed that China's industrial profits in March increased year-on-year, the first in four months. see.
In the midst of continuing uncertainty surrounding the global economic outlook, investors are waiting for the Federal Reserve's (Fed/FED) meeting this week, as well as China's manufacturing data, to find clues to the trend of the world's two largest economies. .
MSCI's Asia Pacific (excluding Japan) index rose 0.38%, rebounding after last week's biggest weekly decline in more than a month.
The CSI 300 index. CSI300 jumped 1%, down 5.6% last week.
The Australian stock market fell 0.43%, hitting a 11-year closing high on Friday. South Korea's comprehensive stock price index .KS11 rose 0.74%.
Japanese financial markets were closed this week, but Nikkei 225 futures traded in Singapore rose 0.85%.
Earlier data released by the United States showed that the first quarter gross domestic product (GDP) increased at an annual rate of 3.2%. Another positive aspect is that China's industrial profits in March rose to more than half a year, and the tax cut effect formed support, but analysts said the popularity is still fragile.
“Investors are still looking for growth, but at the same time, there is still a lot of uncertainty in the US-China trade negotiations and the US dollar,” said Joanne Goh, equity strategist at DBS Bank in Singapore.
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