BEIJING (AP) – Asian stock markets rose Monday as investors looked ahead to a U.S. Federal Reserve meeting and President Donald Trump’s speech at the United Nations.
KEEPING SCORE: The Shanghai Composite Index gained 0.3 percent to 3,362.94 and Hong Kong’s Hang Seng rose 1 percent to 28,095.16. Japanese markets were closed for a holiday. South Korea’s Kospi added 1.1 percent to 2,413.04 and Australia’s S&P-ASX 200 advanced 0.4 percent to 5,719.70. Benchmarks in Taiwan, Singapore and Bangkok rose, while New Zealand and Indonesia retreated.
WALL STREET: U.S. stocks rose Friday, turning in one of their best weeks this year, as technology companies and banks gained. The Standard & Poor’s 500 index closed above 2,500 for the first time. The S&P gained 0.2 percent to a record 2,500.23. The Dow Jones industrial average 0.3 percent to 22,268.34, its fourth record close in a row. The Nasdaq composite added 0.3 percent to 6,448.47.
FED WATCH: Investors looked ahead to this week’s Fed policy meeting for indications on the timing of the next rate hike and when the Fed might start shrinking its multitrillion-dollar stockpile of bonds. Forecasters expect the Fed to leave rates unchanged and stick to plans to raise rates in December. Investors also are looking for indications of when and how central bankers will start selling off bonds bought to shore up economic growth after the 2008 crisis.
NORTH KOREA: Markets are watching Trump’s U.N. speech Tuesday for any mention of military options on North Korea following its latest missile launch. The Security Council criticized Friday’s “highly provocative” launch over Japan. Washington’s ambassador to the United Nations, Nikki Haley, said Sunday that North Korea will be destroyed if it continues with reckless behavior.