A view of the Bank of Japan headquarters in Tokyo.
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Asia-Pacific markets were mixed on Monday after a stronger-than-expected US jobs report on Friday revealed hiring and wage growth in May.
This adds to the narrative that the Fed should not rush to lower interest rates. Traders do not expect the Federal Open Market Committee to cut rates at this week’s meeting or its next meeting in July.
This week in Asia, investors will look to Japan’s first-quarter gross domestic product figures on Monday, followed by the Bank of Japan’s rate decision on Friday.
Separately, China and India’s inflation figures for May will be released on Wednesday.
Japan Nikkei 225 up 0.19% at the open, while the broad-based Topix rose 0.38%.
In contrast, South Korea’s Kospi fell 1% and small-cap Kosdaq fell 0.5%.
Several Asian markets were closed for Monday, including Australia, mainland China, Hong Kong and Taiwan.
On Wall Street on Friday, the S&P 500 finished flat after touching an intraday record. The Dow Jones Industrial Average fell 0.22% and the Nasdaq Composite fell 0.23%.
Despite the loss, all three major averages notched a winning week. The Dow posted a 0.29% gain, while the S&P 500 added nearly 1.32% and the Nasdaq advanced 2.38% for the week.
Correction: This story has been updated to correct the June Federal Reserve meeting date.
