China parliament meeting, U.S. election in focus

Asia-Pacific markets rose Monday as investors geared up for a busy week that includes the U.S. presidential election and the Federal Reserve’s monetary policy meeting.

Investors will also closely watch China’s parliament meeting that’s scheduled to kick off on Monday. Chinese authorities are expected to announce more details on fiscal support when the meeting concludes on Friday.

China’s October trade data is due Thursday after downbeat exports and imports growth in September.

South Korea will report its October consumer inflation reading on Tuesday, which is estimated to ease for the third consecutive month to 1.4% year on year, according to LSEG estimates. That compares with 2.6% in July, 2.0% in August and 1.6% in September.

Australia’s central bank will also reveal its interest rate decision on Tuesday. The Reserve Bank of Australia is likely to hold its official cash rate at 4.35%, according to a Reuters poll of economists.

Japan’s markets were closed Monday for a holiday.

South Korea’s blue chip Kospi added 1.51%, while the small-cap Kosdaq gained 3.16%.

Hong Kong’s Hang Seng index was up 0.21%, while mainland China’s CSI 300 rose 0.49%.

Australia’s S&P/ASX 200 closed 0.56% higher at 8,164.6.

The Taiwan Weighted Index gained 0.81% to close at 22,965.39.