Investing.com – Asian shares traded mixed on Monday with Tokyo and Seoul showing early gains before easing to neutral and China shares higher.
The Nikkei 225 fell 0.2% at midday, but the Shanghai Composite gained 0.7%. The KOSPIadded 0.4%.
With few broad catalysts for markets, investors were looking ahead to events later in the week. Tuesday will see China releasing manufacturing data for June, and the Reserve Bank of Australia’s policy decision.
Last week, U.S. stocks rose on market expectations for interest rates to remain low for the foreseeable future.
The Dow 30 rose 0.03%, the S&P 500 index rose 0.19%, while the NASDAQ Compositee index rose 0.43%.
On Thursday, St. Louis Federal Reserve President James Bullard told Fox Business Network that an improving economy may make conditions ripe for interest rates to rise possibly in early 2015.
Stocks fell on the news, though investors digested Bullard’s comments and took them in stride, as he is a known inflation hawk and is a non-voting member of the Federal Open Market Committee, which sent share prices rising on Friday.
In the week ahead, investors will be looking to the U.S. nonfarm payrolls report on Thursday for further indications on the strength of the labor market, while Monday’s euro zone inflation report will also be in focus, ahead of the European Central Bank policy meeting and press conference on Thursday.
On Monday, the euro zone is to produce preliminary data on consumer price inflation, which accounts for the majority of overall inflation. Meanwhile, Germany is to publish data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.
The U.K. is to release data on net lending to individuals.
Canada is to publish the monthly report on gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth.
The U.S. is to produce data on manufacturing activity in the Chicago region and a report on pending home sales.
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