Panoramic view of Busan city, South Korea taken on sunrise.<\/p>\n
Alex Veprik | Moment | Getty Images<\/p>\n
Asia-Pacific markets traded higher Monday, after artificial intelligence valuation concerns fueled declines in markets across the region last week.<\/p>\n
Investors in Asia are also parsing October inflation data from China<\/a> over the weekend, which came in above expectations.<\/p>\n Headline consumer inflation was at 0.2% year on year, compared to expectations of zero growth from economists polled by Reuters. Wholesale inflation saw a softer-than-expected drop of 2.1% year on year, against the expected 2.2% decline.<\/p>\n South Korea’s Kospi<\/a> climbed nearly 3%, led by banks and insurance stocks, while the small-cap Kosdaq was 0.86% up.<\/p>\n Japan’s Nikkei 225<\/a> advanced 0.98%, while the broad-based Topix was up 0.33%. Yields of 10-year Japanese government bonds inched up to as high as 1.695%, their highest since October.<\/p>\n On Monday, minutes from the Bank of Japan’s October meeting revealed that the BOJ<\/a> seemed more inclined toward a near-term rate hike, saying that “it is likely that conditions for taking a further step toward the normalization of the policy interest rate have almost been met.”<\/p>\n However, the BOJ also said there were other factors to consider, such as the need to examine to what extent the “underlying inflation rate has become entrenched.”<\/p>\n Hong Kong’s Hang Seng index also joined the recovery rally, up 0.54%, but the CSI 300 on mainland China bucked the trend and lost 0.26%.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a> gained 0.68%<\/p>\n On Friday stateside in the U.S., the\u00a0Nasdaq Composite<\/a>\u00a0continued to fall, but the\u00a0Dow Jones Industrial Average<\/a>\u00a0and\u00a0S&P 500<\/a>\u00a0inched into positive territory after Senate Minority Leader Chuck Schumer\u00a0offered up a new plan<\/a>\u00a0to Republicans that would enable the record-breaking U.S. government shutdown to end.<\/p>\n A survey from the University of Michigan revealed Friday that consumer sentiment in the country has\u00a0neared its lowest level ever<\/a>. The data comes just a day after firm Challenger, Gray & Christmas reported that layoff announcements in October\u00a0reached their highest level<\/a>\u00a0for the month in 22 years.<\/p>\n \u2014CNBC’s Sean Conlon and Pia Singh contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"Panoramic view of Busan city, South Korea taken on sunrise. Alex Veprik | Moment | Getty Images Asia-Pacific…\n","protected":false},"author":2,"featured_media":274648,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[256,254,255,9073,64,63,9071,1053,174,9067,9068,171,9070,1063,105,9072],"class_list":["post-274647","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-asia-economy","tag-au","tag-australia","tag-breaking-news-asia","tag-breaking-news-markets","tag-business-news","tag-hang-seng-index","tag-kospi-index","tag-markets","tag-nikkei-225-index","tag-sp-500-index","tag-technology","tag-world-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/274647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=274647"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/274647\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/274648"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=274647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=274647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=274647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}