China returns from New Year, CSI 300, New Zealand trade, Fed meeting
Visitors walk Central Street in Taipa Village in Macau, China, Wednesday, Jan. 25, 2023. Tourism and spending are reviving in Macau as the Lunar New Year holiday spurred a jump in visitors after pandemic travel restrictions were eased between the territory and mainland China.
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Asia-Pacific shares traded mixed on Monday as markets in mainland China jumped to resume trading after a week-long New Year break.
Chinese onshore stocks are heading for a bull market — The CSI 300, which tracks the biggest mainland-listed stocks, has gained more than 20% from recent lows in late October last year.
The Shenzhen component rose more than 2%, leading gains in the broader region. The Shanghai Composite rose 1[ads1].36% in the first hour of trading. Hong Kong’s Hang Seng index traded 0.6% lower.
In Japan is Nikkei 225 rose 0.12% while the Topix also rose 0.03%. South Korea’s Kospi fell 0.24% while the Kosdaq rose 0.28%.
The S&P/ASX 200 in Australia fell 0.12%. Investors also digested trade data from New Zealand.
Stocks on Wall Street ended the week last Friday higher, driven by gains in Tesla shares and a better-than-expected GDP report on Thursday. All major averages had a positive week and are on pace for a month of gains.
— CNBC’s Samantha Subin, Carmen Reinicke contributed to this report
