Asia-Pacific stocks higher mirroring a positive lead from Wall Street, Powell speech in focus

Japan (NKY:IND) +2.37%. Japan October Services PMI 51.6 (prior 53.8). The au Jibun Bank Japan Composite PMI was revised upward to 50.5 from a flash print of 49.9 but was lower than a final 52.1 in September.

Japan’s 10-year government bond yield fell below 0.9%, retreating further from ten-year highs and tracking global bond yields lower amid growing expectations that major central banks are done with interest rate hikes.

China (SHCOMP) +0.77%.

Hong Kong (HSI) +1.61%. HK 10 Year Government Bond Yield decreased to a 6-week low of 4.088%.

India (SENSEX) +0.54%.

Australia (AS51) +0.28%. Australian data – Melbourne Institute Inflation (October) -0.1% m/m (prior 0).

Australian jobs indicator (ANZ-Indeed Australian Job Ads index) -3% in October, prior -0.5.

In the U.S. on Friday, all three major indexes ended higher, following a slump in US Treasury yields after a soft monthly jobs report helped ease bets that the Fed will continue its tightening path.

U.S. stock futures were little changed on Monday as investors look ahead to more earnings reports and several appearances by Federal Reserve officials this week: Dow +0.13%; S&P 500 +0.10%; Nasdaq +0.10%.

Traders also took a cautious stance ahead of key economic data from China this week, including trade figures and inflation readings for October.

Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).

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