Asian Stocks Inch Up as Investors Weight on China’s Covid-Zero Stance

Asia-Pacific markets traded higher on Monday as investors digested the latest affirmation of China’s Covid-Zero stance against speculation controls may be loosened, as well as the U.S. jobs report and a look ahead to the midterm elections.

As of 9.35 A.M. (Thai time), the Hang Seng index in Hong Kong rose 1.20%. Mainland China’s Shanghai Composite lost 0.32%.

The Nikkei 225 in Japan was 1.30% higher. In South Korea, the Kospi was up 0.71%. The S&P/ASX 200 traded 0.34% higher in Australia.

China is expected to announce trade data later in the day, and Apple suppliers in the region will be watched after the company warned that Covid curbs in China are hampering iPhone production.

Health officials in China have reiterated their commitment to strict measures, which has cooled market sentiment after last week’s surge in risk appetite on rumors of “conditional” plans for a reopening.