Investing.com - Asian stock markets were mixed during late Asian trade on Monday, with trading activity subdued as markets in Japan and mainland China remained closed for a public holiday.
During late Asian trade, Hong Kong's Hang Seng Index was little changed, Australia’s ASX/200 Index closed up 0.5%, while markets in Tokyo and Shanghai are closed for the Golden Week public holidays.
Japan will resume trade on Tuesday while Shanghai will re-open Thursday.
Appetite for riskier assets weakened after data on Friday showed that the U.S. economy grew less-than-forecast in the first quarter.
The Commerce Department said U.S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.
The disappointing data underlined expectations that the Federal Reserve will keep its loose monetary policy in place for the indefinite future.
Market players will be focusing on Wednesday’s policy statement from the U.S. central bank, for further hints regarding the future of the central bank’s monetary easing program.
Investors will also be awaiting the outcome of the European Central Bank’s policy meeting on Thursday, amid growing expectations for a rate cut, as well as Friday’s closely watched report on U.S. nonfarm payrolls.
In Hong Kong, the Hang Seng swung between small gains and losses as investors remained on the sidelines with this week's holidays in China.
In earnings news, China Eastern Airlines tumbled 4% after the company reported Friday that it lost CNY132.4 million in the first quarter.
On the upside, Chinese telecom major ZTE jumped 3.5% following upbeat first-quarter earnings results also released on Friday.
Meanwhile, in Australia, the benchmark ASX/200 Index inched higher on the back of strong gains in the financial sector.
The big four banks all rose, with Westpac Banking Group gaining the most, up 1.6%. National Australia Bank and Commonwealth Bank of Australia added 1.4% and 1% apiece. While Australia and New Zealand Banking Group tacked on 0.5%.
Looking ahead, European stock market futures pointed to a steady open, as expectations for a European Central Bank rate cut continued to support sentiment.
The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures added 0.4%, London’s FTSE 100 futures eased up 0.2%, while Germany's DAX futures pointed to a gain of 0.1% at the open.
The U.S. was to release a report on pending home sales later in the trading day.
During late Asian trade, Hong Kong's Hang Seng Index was little changed, Australia’s ASX/200 Index closed up 0.5%, while markets in Tokyo and Shanghai are closed for the Golden Week public holidays.
Japan will resume trade on Tuesday while Shanghai will re-open Thursday.
Appetite for riskier assets weakened after data on Friday showed that the U.S. economy grew less-than-forecast in the first quarter.
The Commerce Department said U.S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.
The disappointing data underlined expectations that the Federal Reserve will keep its loose monetary policy in place for the indefinite future.
Market players will be focusing on Wednesday’s policy statement from the U.S. central bank, for further hints regarding the future of the central bank’s monetary easing program.
Investors will also be awaiting the outcome of the European Central Bank’s policy meeting on Thursday, amid growing expectations for a rate cut, as well as Friday’s closely watched report on U.S. nonfarm payrolls.
In Hong Kong, the Hang Seng swung between small gains and losses as investors remained on the sidelines with this week's holidays in China.
In earnings news, China Eastern Airlines tumbled 4% after the company reported Friday that it lost CNY132.4 million in the first quarter.
On the upside, Chinese telecom major ZTE jumped 3.5% following upbeat first-quarter earnings results also released on Friday.
Meanwhile, in Australia, the benchmark ASX/200 Index inched higher on the back of strong gains in the financial sector.
The big four banks all rose, with Westpac Banking Group gaining the most, up 1.6%. National Australia Bank and Commonwealth Bank of Australia added 1.4% and 1% apiece. While Australia and New Zealand Banking Group tacked on 0.5%.
Looking ahead, European stock market futures pointed to a steady open, as expectations for a European Central Bank rate cut continued to support sentiment.
The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures added 0.4%, London’s FTSE 100 futures eased up 0.2%, while Germany's DAX futures pointed to a gain of 0.1% at the open.
The U.S. was to release a report on pending home sales later in the trading day.