Asia-Pacific markets were mixed, as expectations for a cooling in inflation in the US boosted investor confidence in the region.
The University of Michigan, consumer sentiment survey, released Friday, showed the one-year inflation outlook dropped to 4 percent, the lowest level since April 2021.
This was followed by the December CPI report, which showed prices fell 0.1 percent from a month ago, raising hopes that the Fed could soon slow rate hikes.
In Australia, the S&P/ASX 200 rose 0.9 percent, the Japanese Nikkei 225 fell 1 percent, and Topix fell 0.61 percent. South Korea’s Kospi was up 0.2 percent, and the Kodaq was up 0.62 percent.
Hong Kong’s Hang Seng index was flat, while Shanghai Composite rose 0.43 percent and Shenzhen Component rose 0.66 percent.
Over the weekend, China reported an increase in nearly 60,000 Covid deaths since it lifted restrictions last month. The announcement came after the World Health Organization criticized China for allegedly underreporting deaths.
On Sunday, the high-speed rail linking mainland China and Hong Kong reopened for the first time in three years.