Crowds walk below neon signs on Nanjing Road. The street is the main shopping district of the city and one of the world’s busiest shopping districts.
Nikada | E+ | Getty Images
Asia-Pacific markets mostly climbed on Monday, with investors keeping a close watch on Chinese equities.
Mainland China’s CSI 300 closed 0.24% lower at 3,996.79, while Hong Kong’s Hang Seng Index rose 0.77% in its final hour.
The Chinese government on Sunday announced a “Special Action Plan to Boost Consumption” to revive consumption by boosting people’s incomes. Other measures include plans to stabilize the stock and real estate market and raising the country’s birth rate.
China’s retail sales rose by 4.0% in the January-February period from a year ago, compared with the 3.7% year-on-year growth in December and in line with Reuters estimates. Meanwhile, urban investment in the country rose 4.1% year-on-year in the January-February period, surpassing the 3.6% forecast by Reuters.
In Japan, the benchmark Nikkei 225 ended the day 0.93% higher at 37,396.52, while the broader Topix index rose 1.19% to close at 2,748.12.
Yields on 40-year Japanese Government Bonds (JGBs) rose seven basis points to hit a record high of 3.007%. Meanwhile, yields on 30-year JGBs rose slightly to hit a 19-year high of 2.635%.
Over in South Korea, the Kospi index advanced 1.73% to close at 2,610.69 while the small-cap Kosdaq added 1.26% to 743.51.
India’s benchmark Nifty 50 had ticked up 0.35%, while the BSE Sensex increased 0.26% as at 1.20 p.m. local time.
Australia’s S&P/ASX 200 ended the day 0.83% higher at 7,854.10.
On Wall Street, U.S. futures fell after ending in negative territory last week on the back of new tariff threats from Trump.
The Dow Jones Industrial Average rose 674.62 points, or 1.65%, to close at 41,488.19 on Friday. The S&P 500 climbed 2.13% to end at 5,638.94, and the Nasdaq Composite advanced 2.61% to settle at 17,754.09. It was the best day in 2025 for both the S&P 500 and the Nasdaq.
Big tech shares that were rattled earlier this week saw a sharp recovery on Friday. Nvidia shares popped more than 5%. Tesla jumped nearly 4%, and Meta Platforms gained close to 3%. Amazon and Apple also rose.
— CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.