Asia markets fall as China stocks set for bull run on return from holiday
Visitors on Central Street of the Taipa Village in Macau, China, on Wednesday, Jan. 25, 2023. Tourism and spending are reviving in Macau as the Lunar New Year holiday spurred a jump in visitors after pandemic travel restrictions were eased between the territory and mainland China.
Bloomberg | Bloomberg | Getty Images
Stocks in the Asia-Pacific traded mostly lower on Monday ahead of mainland Chinese markets resuming trade after a week-long New Year break.
Chinese onshore equities are poised to enter a bull market — the CSI 300, which tracks the largest mainland-listed stocks, having gained more than 19% from its recent lows seen at the end of October last year.
In Japan, the Nikkei 225 fell 0.08% and the Topix also lost 0.06%. South Korea’s Kospi was just above the flatline while the Kosdaq rose 0.61%.
The S&P/ASX 200 in Australia shed 0.1% in its first hour of trade. Investors also digested trade data from New Zealand.
Stocks on Wall Street ended the week last Friday higher, fueled by gains in Tesla shares and a better-than-expected GDP report on Thursday. All major averages posted a positive week and are on pace for a month of gains.
— CNBC’s Samantha Subin, Carmen Reinicke contributed to this report
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