Markets in Asia-Pacific are rising faster than data on factory activity in China

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan.

Toru Hanai | Bloomberg | Getty Images

Shares in Asia-Pacific rose Monday ahead of Chinese factory activity data expected to be released and as markets look ahead to the US Fed meeting later this week.

On Friday, major US stock indices rose 2% each on optimism that inflation could slow.

The Nikkei 225 rose 1.32% in early trading and the Topix gained about 1%. South Korea’s Kospi added 0.59% and the Kosdaq was up 0.83%.

In Australia, the S&P/ASX 200 also added 1%. MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 0.3%

China’s National Bureau of Statistics is expected to release its purchasing managers index data on Monday, with analysts expecting a reading of 50, according to a Reuters poll.

Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation figures this week.

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