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Asian stocks close mostly on the rise, but remain focused on US interest rates

Asian stocks closed mostly higher on Monday (10), with investors waiting for new data on US inflation that could be decisive for the trajectory of basic interest rates in the United States.

In mainland China, the Shanghai Composite index rose 0.39% to 3,593.52 points, and the less comprehensive Shenzhen Composite index rose 0.59% to 2,467.32 points, helped by the good performance of energy stocks.

Elsewhere in Asia, Hang Seng gained 1.08% in Hong Kong to 23,746.54 points and Taiex gained 0.38% in Taiwan to 18,239.38 points.

On the other hand, South Korean Kospi fell 0.95% in Seoul, to 2,926.72 points. In Japan, a holiday kept the Tokyo Stock Exchange closed.

In Hong Kong, Chinese property developer Shimao Group’s stock jumped more than 19% after news that the company is trying to sell real estate projects at a time of financial difficulties.

Last week, a subsidiary of Shimao failed to repay a trust loan.

Investors from the Asian region and other parts of the world are looking forward to new US consumer inflation (CPI) data, which will be released on Wednesday (12) and could seal the fate of US monetary policy.

Last week, the Fed signaled that it may accelerate plans to raise interest rates amid persistent inflationary pressures and improvements in the job market.

In Oceania, the Australian stock market ended today’s trading session with only a marginal low. The S&P/ASX 200 retreated 0.08% in Sydney, to 7,447.10 points.

Reference: CNN Brasil

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