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Asia and the Pacific are higher as investors await China’s GDP data

SINGAPORE – Shares in Asia and the Pacific rose Monday morning as investors await the release of China’s GDP data.

Hong Kong’s Hang Seng index jumped 1.47% in early trading, with HSBC shares listed in the city gaining more than 3%.

Shares of Alibaba in Hong Kong rose more than 1.5%. The Chinese technology giant affiliated with financial technology, Ant Group, received approval from the China Securities Regulatory Commission for Hong Kong̵

7;s portion of its expected listing, a source tells CNBC.

Meanwhile, Sun Art Retail Group’s shares rose more than 28% after Alibaba announced it had agreed to acquire controlling interests in the company.

In Japan, the Nikkei 225 rose 1.22% in morning trading, while the Topix index added 1.42%.

Japan’s exports fell 4.9% year-on-year in September, according to trade statistics released by the country’s finance ministry on Monday.

South Korea’s Kospi also advanced by 0.74%.

Meanwhile, equities in Australia rose higher with the S & P / ASX 200 up around 1.1%.

MSCI’s broadest index of Asia-Pacific equities outside Japan traded 0.9% higher.

Chinese economic data ahead

The investor’s focus on Monday will be on China’s GDP printing in the third quarter, as well as data on industrial production and retail sales for September.

“We expect the data dump to highlight that China’s economic recovery is well under way,” Commonwealth Bank of Australia strategists wrote in a note.

“Unlike many other economies, China’s economic recovery has been strong. Infection rates have remained low and politicians have been able to focus on restarting the economy rather than health outcomes,” the strategists said.

Currencies and oil

The US dollar index, which tracks the greenback against a basket of its peers, was last at 93,676 after touching levels around 93.9 in recent days.

The Japanese yen traded at 105.42 per dollar after seeing levels below 105.3 against the greenback last week. The Australian dollar changed hands at $ 0.7101 after its fall last week from levels above $ 0.715.

Oil prices changed slightly in the morning during Asian trading, with international benchmark Brent crude futures rising fractionally to $ 42.95 per share. Barrel. US crude futures were above flatline.

What is in print:

  • China: GDP for the third quarter, industrial production, retail sales and fixed assets for September at. 10.00 HK / SIN

– CNBC’s Arjun Kharpal contributed to this report.

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