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South Korea leads gains as Asia-Pacific stocks rise; China October economic data releases ahead

SINGAPORE — Shares in Asia-Pacific rose in Monday trade as investors look ahead to Chinese economic data releases due out later today.

South Korea’s Kospi climbed 1.11%, leading gains among the region’s major markets as shares of chipmaker SK Hynix soared more than 4%.

Elsewhere, mainland Chinese stocks were mixed, with the Shanghai composite up around 0.1% while the Shenzhen component dipped 0.27%. Hong Kong’s Hang Seng index fell 0.14%.

China is set to release a slew of economic data, including industrial production and retail sales for October, at 10:00 a.m. HK/SIN.

The Nikkei 225 in Japan rose 0.49% as shares of conglomerate SoftBank Group jumped nearly 2%. The Topix index gained 0.47%.

Preliminary estimates released Monday showed Japan’s gross domestic product declining an annualized 3% in the July-September quarter, far worse than the median market forecast for a 0.8% contraction, according to Reuters.

The S&P/ASX 200 in Australia gained 0.4%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.35% higher.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.048 following a recent rise from below 94.5.

The Japanese yen traded at 113.77 per dollar, following last week’s weakening from levels below 113 against the greenback The Australian dollar was at $0.7334, having slipped from above $0.74 last week.

Oil prices declined in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.65% to $81.64 per barrel. U.S. crude futures shed 0.58% to $80.32 per barrel.

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