Asian Markets Rise on China Meeting, Oil Gains
Asian markets mostly rose on Monday as China's leaders began a major meeting expected to bring fresh pledges of help for the economy. Oil prices gained after OPEC+ extended production cuts.
Hong Kong's Hang Seng gained 0.2%, Shanghai Composite rose 0.5%, and Australia's S&P/ASX 200 climbed 0.6%. The Kospi in Seoul jumped 1.4%, while Taiwan's Taiex advanced 0.8%. India's Sensex tumbled 1.8%.
On Friday, Amazon led U.S. stock indexes higher, while a weak jobs report cemented bets for another interest rate cut next week. The S&P 500 rose 0.4%, the Dow Jones Industrial Average added 0.7%, and the Nasdaq composite gained 0.8%.
Treasury yields pushed higher after a weak jobs report and a contraction in U.S. manufacturing. The Fed is still expected to cut interest rates next week.
In currency dealings, the dollar slipped to 151.85 Japanese yen, while the euro rose to $1.0900.