Asia-Pacific markets are trading mixed as investors return from a strong week and look forward to major central bank meetings scheduled ahead.
In Japan, the Nikkei 225 added 168.83 points, or 0.5%, to 32,434,
The U.S. Federal Open Market Committee (FOMC) takes place on June 13-14, the European Central Bank meets on Thursday, and the Bank of Japan’s meeting will conclude on Friday.
In Hong Kong, the Hang Seng gained 14.36 points, or 0.1%, to 19,404.31.
Hong Kong-listed shares of Chinese EV makers rose after Nio said it would cut prices by 30,000 yuan ($4,198.74) for all models from June 12.
The move comes a month after the electric car company’s CEO William Li told the media in an interview that Nio won’t join the “price war” and slash prices like its U.S. rival Tesla.
Shares of Nio rose nearly 6% in Monday’s afternoon trade and Xpeng gained 11%.
CHINA
In China, the CSI 300 index stepped forward 7.73 points, or 0.2%, to 3,844.43.
People’s Bank of China governor Yi Gang said that he expects China’s second quarter gross domestic product to be “relatively high” thanks to a low base effect.
Yi, in a speech delivered in Shanghai last week, said that recent soft inflation prints reflect a delayed rise in demand levels and that he expects the consumer price index to pick up gradually in the second half of the year.
He reiterated his confidence in the economy reaching the government-set full-year growth target of about 5%.
In other markets
In Korea, the Kospi Index gave up 11.81 points, or 0.5 %, to 2,629.35.
In Taiwan, the Taiex index gathered 68.97 points, or 0.4%, to 16,955.37.
In Singapore, the Straits Times index edged forward 9.1 points, or 0.3%, to 3,196.07.
In New Zealand, the NZX 50 lost 74.79 points, or 0.6%, to 11,615.55
Australian markets were closed for holiday.
