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Japan’s Nikkei jumps nearly 2% as Asia stocks rise ahead of major economic data this week

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SINGAPORE — Shares in Asia-Pacific rose in Monday morning trade as investors look ahead to major economic data releases later in the week.

In Japan, the Nikkei 225 rose 1.21% in early trade as shares of robot maker Fanuc jumped more than 2%. The Topix index traded 1.01% higher.

The Kospi in South Korea also climbed 1.07%, while Australia’s S&P/ASX 200 edged 0.31% higher.

MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.28% higher.

Several major data releases are expected later in the week. China is set to announce its official manufacturing Purchasing Managers’ Index for May on Tuesday, with investors looking for clues on the economic impact of Covid-related lockdowns on the mainland.

U.S. jobs data is expected Friday. Markets in the U.S. are closed on Monday for a holiday.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.708 following a recent drop from levels above 102.

The Japanese yen traded at 127.27 per dollar, stronger as compared with levels above 127.8 seen against the greenback last week. The Australian dollar was at $0.7158 after a climb last week from below $0.71.

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