Equities in Asia rose, closing some important markets during the holidays as investors weighed the current earnings season against a series of signals for global economic growth. The won recovered as the two Koreas approached the peace on the peninsula.
The largest gain in equities was in Hong Kong, where technology and banking stocks rebounded. The markets in Japan and China were closed for holidays. Equities in Seoul advanced with victory after North Korea pledged denuclearization on Friday before the upcoming summit between Kim Jong Un and US President Donald Trump. The Results of Technology Giants Microsoft Corp., Intel Corp. and Amazon.com Inc. attracted US stocks late last week.
Friday's data showed that the US economy cooled in the first quarter, albeit not as strongly as predicted. while the UK has posted the worst quarterly GDP figures since 2012. France and Spain reported slightly lower growth rates. Meanwhile, an indicator of activity from Chinese manufacturers remained robust, signaling that economic expansion is intact.
Elsewhere, there was little reaction in the pound after Theresa May ally Amber Rudd resigned as UK secretary late Sunday. Crude oil has fallen below the $ 68 a barrel level as investors wait to see if Iran's 2015 nuclear agreement with the world powers will survive the Trump government's control.
Terminal users can read more in our markets Blog
These are some of the key events that hit this week:
- The Federal Open Market Committee will begin a two-day meeting on Tuesday. Fed monetary policy makers are expected to leave their benchmark interest rates at banks at a range of 1.5 to 1.75 percent, economists predict.
- In Japan this is the Golden Week with public holidays Monday, Thursday and Friday. China is closed on Monday and Tuesday.
- The monetary policy decision of the Reserve Bank of Australia will expire on Tuesday. The central bank is expected to keep interest rates unchanged for more than 1 1/2 years.
- The European Commission presents its spring forecasts, which include forecasts for growth, inflation, debt and deficits on Wednesday's proposal for the EU's seven-year budgetary framework.
- In the US, wage increases were likely to pick up in April, with surveys by economists suggesting a 4% decline in the unemployment rate.
- The earnings season continues with the headlining of Apple Inc. Other high profile results include Pfizer Inc., Merck & Co., Cigna Corp., HSBC Holdings Inc., BNP Paribas SA, Standard Chartered Plc, Tesla Inc., BP Plc, McDonald's Corp. and Adidas AG.
And these are the main movements in the markets:
- The Hang Seng Index rose 1.5 percent in Hong Kong at 11:21.
- The Kospi index gained 0.6 percent.
- The Australian S & P / ASX 200 Index rose 0.5 percent.
- S & P 500 futures rose 0.2 percent. The underlying price rose 0.1% on Friday.
- MSCI Asia Pacific excluding Japan Index up 1 percent
- The Bloomberg Dollar Spot Index edged up less than 0.1 percent from a close of 0.2 percent on Friday its peak since January.
- The won jumped 1 percent to 1,066.35.
- The Euro traded at $ 1.2125
- The British pound fell 0.1 percent to $ 1.3777
- The Yen lost 0.1 percent to $ 109.14.
- Ten-year Treasury yields fell two basis points to 2.96 percent on Friday. Treasuries are traded on Monday in London, Japan is closed.
- Australia's 10-year bond yield fell four basis points to 2.78 percent.
- West Texas Intermediate crude lost 0.3 percent to $ 67.90 a barrel.
- Gold lost 0.2 percent to $ 1,322.15 an ounce.  – With the support of Heejin Kim