SYDNEY (Bloomberg) - Asian stocks rose, following a rebound in US equities, as a weaker yen boosted Japanese exporters and investors awaited data on China's inflation.
The MSCI Asia Pacific Index advanced 0.1 per cent to 144.08 as of 9.01am in Tokyo. The gauge sank to a three-week low on Monday after US job data spurred traders to bring forward bets on higher interest rates for the world's largest economy.
The Standard & Poor's 500 Index climbed 0.4 per cent on Monday after tumbling Friday following the employment report. China reports on consumer and producer prices today, the first in a slew of data this week that will give clues about its growth.
"The China data will provide us with an update with what's happening as people just want to see that there's some traction in the economy at this stage," said Mr Tony Farnham, an analyst in Sydney at Patersons Securities. "The authorities are mindful of the slowdown in demand and will continue to address that."
Japan's Topix index gained 0.5 per cent as the yen slid 0.2 per cent to 121.44 per dollar. South Korea's Kospi index also climbed 0.5 per cent. Australia's S&P/ASX 200 Index rose 0.2 per cent, while New Zealand's NZX 50 Index was little changed.
Futures on Hong Kong's Hang Seng Index were little changed in most recent trading. Cash markets in Hong Kong and China are yet to open.
Futures on the S&P 500 slid 0.1 per cent. US equities entered the seventh year of a bull run Monday, with the S&P 500's advance paring the biggest drop in two months on Friday. The S&P 500 has gained just 1 per cent this year, the third-worst performer of 24 developed markets tracked by Bloomberg.
European finance ministers piled pressure on Greece to open its books and follow through with pledges agreed to in its rescue package, as the country tries to avoid running out of cash as soon as this month. Greece will resume talks with its creditors in Brussels on Wednesday, alongside technical talks in Athens to comb through data.