Mainland Chinese Stocks Reached Good Results

Stocks in Asia-Pacific were mixed on Monday, with mainland Chinese markets rising as they reopened following the Lunar New Year holidays last week.

The Shanghai composite gained 2.03% to end its trading day at 3,429.58. The Shenzhen component added 0.965% to close at 13,456.65.

In Hong Kong, the Hang Seng index dropped about 0.2%, as of its final hour of trading. 

In Japan, the Nikkei 225 fell 0.7% to close at 27,248.87. The Topix index dropped 0.24% to finish its trading day at 1,925.99.

South Korea’s Kospi fell 0.19% to 2,745.06.

The S&P/ASX 200 in Australia declined 0.13% on the day to 7,110.80. Nevertheless, shares of Qantas Airways jumped on Monday. Its shares rose 4.62% after the country announced it will reopen its borders to vaccinated travelers this month. 

U.S. stocks on Monday

Stocks across the ocean were mixed on Monday, after the S&P 500 posted its best week of 2022, supported by quarterly earnings reports and a better-than-expected January employment report

The Dow Jones Industrial Average gained 79 points or about 0.2%. Meanwhile, the S&P 500 advanced 0.2% and Nasdaq Composite gained 0.4%.

This week, investors will be watching more earnings reports, though the blistering pace of the past several weeks will slow. Tyson Foods added more than 9% after surpassing earnings expectations on Monday. Shares of Amazon advanced more than 2%, building on Friday’s post-earnings pop and boosting the Nasdaq.

Besides, some of the most beaten down areas of the market were leading in early trading. Shares of Peloton jumped more than 20% on Monday. The company’s shares rose thanks to reports that Amazon and Nike are lining up as possible suitors for the interactive fitness equipment maker. Shares of Snowflake gained more than 9% after an upgrade from Morgan Stanley. 

Spotify was not so lucky. Its shares fell 3.6% after Spotify said it condemns the past use of racial slurs by controversial podcast host Joe Rogan. However, it decided not to remove him from the streaming site.