Asia Gains As China Profits Rise

(MENAFN- Baystreet) Asia-Pacific markets rose Monday as industrial profits in China rose during the first four months of the year, according to official data.
In Japan, the Nikkei 225 index restocked 253.91 points, or 0.7%, to 38,900.02.
In Hong Kong, the Hang Seng index triumphed 218.41 points, or 1.2%, to 18,827.35.
Australian shares snapped a four-day losing streak. Australia will also announce its inflation data for April on Wednesday, with analysts from ING expecting a“modest dip.”
CHINA
China's industrial profits rose 4.3% year on year in the January to April period, data from the National Bureau of Statistics showed.
In Shanghai, the CSI 300 regained 34.23 points, or 1%, to 3,635.71.
More economic data from China and India is also due later this week. The world's second-largest economy will release its official purchasing managers' index reading on Friday, while India will post its fiscal fourth-quarter gross domestic product numbers.
In other markets
In Korea, the Kospi index recovered 35.39 points, or 1.3%, to 2,722.99.
In Singapore, the Straits Times Index inched higher 1.89 points, or 0.1%, to 3,318.45.
In Taiwan, the Taiex index popped 238.43 points, or 1.1%, to 21,803.77.
In New Zealand, the NZX 50 index subtracted 27.39 points, or 0.2%, to 11,756.
In Australia, the ASX 200 gained 60.71 points, or 0.8%, to 7,738.31.

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