Asia shares near month high ahead of central bank meetings

Asian shares started tentatively on Monday as investors braced for central bank meetings from Europe, Japan and the United States this week, along with U.S. inflation data that will likely influence the Federal Reserve’s monetary policy path.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.17% to 519.96, having touched a more than one-month peak of 521.94 earlier in the session. The index is up 4% for the month. Japan’s Nikkei (.N225) rose 0.7%, while E-mini futures for the S&P 500 rose 0.15%.

China stocks (.SSEC) eased 0.01%, while Hong Kong’s Hang Seng Index (.HSI) opened up 0.3%. China’s sputtering post-COVID-19 economic recovery has weighed on stocks, with investors pinning their hopes on more policy stimulus as weak manufacturing and exports hurt the broader outlook this year.

Last week, the Reserve Bank of Australia and Bank of Canada stunned markets by increasing interest rates to tame stubborn and sticky inflation, stoking worries that the Fed might follow suit and take a hawkish stance in its June meeting.

This report’s information was first seen on REUTERS; to read more, click this link.