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Increase in Property Stocks Boosts Hong Kong’s Hang Seng Index

Hong Kong’s Hang Seng index experienced significant gains at the start of the week, primarily driven by a surge in property stocks. Meanwhile, other Asia-Pacific markets displayed mixed performance.

The Hang Seng index saw a 2.5% jump, while mainland markets also turned positive, with the benchmark CSI 300 rising by 1.33%.

Investors will closely monitor key data from Australia and China throughout the week. This includes the Reserve Bank of Australia’s interest rate decision on Tuesday, China’s release of the trade balance for August on Thursday, and the inflation rate announcement over the weekend.

Japan’s Nikkei 225 continued its winning streak, climbing 0.7% and reaching its highest level in over a month. The Topix also marked six straight days of gains, closing 1.02% higher.

Australia’s S&P/ASX 200 rebounded, finishing at 0.56% and South Korea’s Kospi reached its highest level in over two weeks with a 0.81% increase. However, Kosdaq experienced a marginal decline, closing at 919.16.

In the U.S., the three major indexes showed mixed results as traders assessed the latest jobs report. The report revealed a rise in unemployment to 3.8% in August, surpassing economists’ predictions of it remaining at 3.5%.

The Dow Jones Industrial Average recorded a 0.33% increase, the S&P 500 added approximately 0.18%, while the Nasdaq Composite slightly decreased by 0.02%.

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