An employee works on the assembly line of intelligent machinery at a workshop on March 31, 2024 in Qingzhou, Weifang City, Shandong Province of China.
Vcg | Visual China Group | Getty Images
The Japanese yen weakened to 160 against the U.S. dollar on Monday, as stocks in Asia-Pacific markets climbed.
Traders are look toward the Federal Reserve’s meeting this week, following another hotter-than-expected U.S. inflation reading Friday.
The yen weakened further on Friday after the Bank of Japan left interest rates unchanged. Japan’s stock markets are closed for a public holiday.
March’s core personal consumption expenditures, excluding food and energy, rose 2.8% from a year ago, and came in ahead of the 2.7% expected by Dow Jones. Personal spending rose 0.8%, ahead of a 0.7% estimate.
In Asia, China’s official purchasing managers index for April is expected Tuesday ahead of the Labor Day holiday on Wednesday, along with Japan’s industrial production and retail sales data from March.
Australia’s S&P/ASX 200 was up 0.43%, rebounding from Friday’s losses.
South Korea’s Kospi rose 0.84%, and the small-cap Kosdaq gained 0.72%.
Hong Kong’s Hang Seng index rose 0.82%, while China’s CSI 300 added 0.1%.