China returns from New Year, CSI 300, New Zealand trade, Fed meeting

Visitors on the central street of Taipa village in Macao, China, on Wednesday January 1. 25, 2023. Tourism and spending are picking up in Macau as the Lunar New Year holiday spurred a surge in visitors after the easing of pandemic travel restrictions between the territory and mainland China.

Bloomberg | Bloomberg | Getty Images

Stocks in the Asia-Pacific region traded mixed on Monday as mainland China markets surged as trading resumed after a week-long New Year pause.

Onshore Chinese stocks head for a bull market the CSI 300, which tracks the biggest stocks listed on the continent, is up around 20% from its recent lows seen in late October last year.

The Shenzhen component rose 1.4%, driving gains in the wider region. The Shanghai Composite rose 0.55% while Hong Kong’s Hang Seng Index traded down 0.9%.

In Japan, the Nikki 225 rose 0.33% while the Topix also gained 0.14%. South Koreans Kospi fell 1.2% while the Kosdaq lost 0.26%.

The S&P/ASX 200 in Australia was slightly below the flat line. Investors also digested trade data from New Zealand.

Stocks on Wall Street ended the week higher last Friday, fueled by gains in Tesla shares and a better-than-expected GDP report on Thursday. All major averages posted a positive week and are on track for a month of gains.

– CNBC’s Samantha Subin, Carmen Reinicke contributed to this report


Leave a Comment

Your email address will not be published. Required fields are marked *