Investing.com - Shares in Asia rose on Monday with prices data from China key for the markets following the better-than-expected U.S. nonfarm payrolls data last week.
The Nikkei 225 advanced 0.57% and South Korea's benchmark Kospi index edged up 0.14%. The S&P/ASX 200 gained 0.41%. Markets in Thailand were closed for a public holiday.
The Shanghai Composite closed on Friday down 0.17%, while the Hang Seng was flat.
On Monday, China releases producer prices and consumer inflation for June with 0.1% fall on-month expected and a 1.5% gain seen annually. Producer prices are seen up 5.5% on year.
Earlier, Japan reported its unadjusted current account surplus at ¥1.654 trillion, narrower than the ¥1.796 trillion seen, while core machinery orders fell 3.6% on year in May, compared to a gain of 7.7% seen. USD/JPY changed hands at 113.98, up 0.06%.
In the week ahead, investors will focus on Fed Chair Janet Yellen's testimony on monetary policy as well as U.S. data on inflation and retail sales, due out on Friday, and trade data from China on Thursday.
Last week, U.S. stocks closed higher on Friday, buoyed by data showing a return to growth in the labor market, after the number of US jobs created in June topped expectations suggesting that economic growth remains robust.
The three main U.S. indexes started the session on the front foot, after The Bureau of Labor Statistics reported Friday, nonfarm payrolls grew by 222,000 in June, well above expectations of a 179,000 increase.
The unemployment rate rose to 4.4%, missing analysts’ forecasts of an unchanged reading of 4.3% while Average hourly earnings were up 2.5% year-over-year, below expectations for a 2.6% rise.
Banking stocks, which are widely viewed to benefit from a rising rate environment, ticked higher in the wake of the mostly upbeat jobs report, as investor expectation grew that the Federal Reserve would continue with its plan to raise rates at least once more this year.
The Dow Jones Industrial Average closed at 21,414.34, up about 94 points. The S&P 500 closed 0.64% lower while the Nasdaq Composite closed at 6153.08, up about 1%.
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