A man walks in front of the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty Images
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Asia-Pacific markets are set to rise on Monday to start a week full of economic data from across the region.
China, which put in place measures to boost its real estate market on Friday, is scheduled to announce key interest rates on one- and five-year loans later in the day. The five-year LPR is the main reference rate for residential mortgages.
Later this week, investors will also look to trade, inflation and business activity data out of Japan, while Singapore will release April inflation data and final first-quarter GDP figures.
Australian futures Standard & Poor's/ASX 200 Indicate a stronger open at 7,876 compared to its last close at 7,814.4.
Japan Nikki 225 It could go either way based on futures data, with Chicago futures at 38,830 and Osaka futures at 38,690 versus the index's last close of 38,787.38.
Hong Kong Hang Seng futures hit 19,704, indicating a stronger open compared to the HSI's close of 19,553.61.
Friday in the United States Dow Jones Industrial Average On Friday it closed above the key 40,000 level for the first time.
The Dow first reached the 40,000 mark during Thursday's trading session, but made its first close above the threshold the next day when it added 134.21 points, or 0.3%, to close at 40,003.59.
the Standard & Poor's 500 It rose 0.1% on Friday, while the index rose Nasdaq Composite It fell by less than 0.1%.
This market rally should continue at least in the short term, according to Tom Lee, head of research at Fundstrat Global Advisors.
AI names are set to steal the spotlight this coming week, with Lee highlighting several potential catalysts, including Microsoft's Build event from Tuesday to Thursday in the US, and Nvidia's financial first-quarter results on Wednesday afternoon.
— CNBC's Lisa Kailai Hahn contributed to this report.
