Beijing central business district with a mix of offices and apartments
ISPY Friend | E+ | Getty Images
Asia-Pacific markets opened higher on Monday as investors analyzed the latest trove of economic data from China.
China’s gross domestic product (GDP) rose 4.8% from a year earlier in the July-September period, in line with analyst forecasts compiled by Reuters.
As expected, the Asian giant also kept its benchmark lending rate unchanged, keeping its one-year loan prime rate unchanged at 3%.
hong kong Hang Seng Index rose more than 2%, while the mainland’s CSI300 rose 0.74%.
Japanese Nikkei Stock Average NHK reported, citing sources, that the TOPIX rose 2.77% and the TOPIX rose 1.91% after Japan’s Liberal Democratic Party and Nippon Ishin no Kai effectively reached an agreement to form a coalition government.
South Korea’s Kospi, which hit a record high for three consecutive days last Friday, rose 0.36%, and the small-cap Kosdaq rose 1.13%.
Australia’s S&P/ASX 200 opened the day 0.1% lower.
Last Friday, the three major averages closed higher in the US.
The Dow Jones Industrial Average rose on Friday as traders tried to digest the softening tone in the U.S. on trade talks with China and try to move past credit concerns that triggered a big regional bank sell-off in the U.S. on Thursday.
The Dow Jones Industrial Average rose 238.37 points, or 0.52%, to end at 46,190.61. The S&P 500 rose 0.53% to 6,664.01 and the Nasdaq Composite rose 0.52% to 22,679.98.
—CNBC’s Liz Napolitano and Pia Singh contributed to this report.
