Most #Asian_stocks advanced on Monday, recovering some ground from last week’s losses, though investors remained cautious ahead of upcoming U.S. inflation and interest rate cues later this week.

Regional #markets took positive signals from Wall Street’s strong close on Friday, where gains in technology stocks helped the NASDAQ Composite achieve a record-high close.

U.S. stock index futures dipped slightly in Asian trade, with trading volumes expected to remain low due to the Memorial Day holiday.

China edges higher, industrial profits improve

China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes each rose about 0.1%, showing a mild recovery from last week’s losses. Data released on Monday indicated that Chinese industrial profits grew steadily in April compared to the previous month, signaling a gradual improvement in one of the country’s largest industries.

However, gains in Chinese markets were limited by waning optimism over recent stimulus measures from Beijing. While the government has announced several supportive measures for the economy, particularly in the housing sector, analysts remain skeptical about the implementation and funding of these measures.

Hong Kong’s Hang Seng index fell 0.4%, weighed down by losses in mainland stocks.

Asian stocks see limited gains, PCE data awaited

Most Asian markets saw limited gains as anticipation of key U.S. inflation data later this week kept investors on edge. The PCE price index data, the Federal Reserve’s preferred inflation gauge, is set to be released on Friday and is expected to influence the outlook for U.S. interest rates.

Last week, dwindling expectations of U.S. interest rate cuts weighed heavily on Asian stocks, with traders largely dismissing the possibility of a cut in September.

Japan’s Nikkei 225 rose 0.3%, as did the broader TOPIX index. Key inflation, retail sales, and industrial production data from Japan are also due later this week.

South Korea’s KOSPI added 0.7%, buoyed by gains in technology stocks. Hype over artificial intelligence, especially following strong results from AI leader NVIDIA Corporation (NASDAQ:NVDA), drove memory chip maker SK Hynix Inc (KS:000660) up 4% to a record high.

China, Japan, and South Korea were also seen starting trilateral trade talks.

Australia’s ASX 200 rose 0.7%, rebounding from last week’s losses.

Futures for India’s Nifty 50 index pointed to a mildly positive open, with the index remaining close to recent record highs.

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