Asian markets were mixed as investors continued to digest China’s modest growth target

A general view showing the Hong Kong skyline in Hong Kong, China on October 13, 2022.

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Shares in the Asia-Pacific region were mixed on Monday as investors awaited a week of economic data, further digesting the growth target set in China’s parliamentary sessions.

in Australia, S&P/ASX 200 It rose 0.62% to end the session at 7,328.6 ahead of the Reserve Bank of Australia’s decision on Tuesday, with economists polled by Reuters expecting its cash rate to rise by 25 basis points.

The Nikkei 225 rose 1.11% to close at 28,237.78, while the Topix added 0.84% ​​to 2,036.49. In South Korea, the Kospi rose 1.2% to 2,462.62 as the country’s February inflation showed further declines.

In mainland China, Shanghai composition It fell 0.19% to 3,322.03 Component of Shenzhen It fell 0.1% to 11,842.88 on Sunday after Chinese Premier Li Keqiang released a report on the country’s government work. The Hang Seng Index struggled for direction and rose 0.2% in the last trading hour.

US non-farm payrolls will be the main focus this week, with expectations of cooling hiring, prompting the Federal Reserve to cut rate hikes.

Stocks on Wall Street ended the week higher as Treasury yields fell from their recent highs and investors weighed the cumulative effect of Fed hikes and digested this week’s central bank comments.

The Dow Jones Industrial Average rose 1.17%, the S&P 500 rose 1.61%, and the Nasdaq Composite rose 1.97%. Benchmark yield 10-year Treasury note It fell below the 4 percent limit.

β€” CNBC’s Tanaya Macheel, Hakyung Kim contributed to this report

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