Asia Markets Rise as Investors Further Digest China's Modest Growth Target

Investors further digested China's modest set growth target and looked ahead to a week of economic data releases and central bank decisions. The data releases will give clues on the strength of the U.S. economy, while the central bank decisions could provide more insight into the monetary policy o

Asia Markets Rise as Investors Further Digest China's Modest Growth Target

This is CNBC’s live blog that covers Asia-Pacific markets.

Stocks in Asia-Pacific traded higher on Monday as investors further digested China's

Growth target

It convened its parliamentary sessions, and looked ahead to a week's economic data.

The Australian government has a number of laws that protect the environment.

S&P/ASX 200

The Reserve Bank of Australia's Tuesday decision was beaten by 0.65%. Economists surveyed for Reuters expected a 25 basis-point increase in the cash rate.


Nikkei 225

The Topix gained 0.7% in the first hour of trading, while the Kospi rose 0.1%. The Kospi in South Korea rose 0.4%, while the Kosdaq gained 0.6%. This was due to South Korea's continued easing of inflation.

Futures for the

Hang Seng index

Investors also saw a rise in open after digesting key targets from the government work report of Chinese Premier Li Keqiang released Sunday.

The U.S. non-farm payroll will be a key focus this week with expectations to see cooled hiring, prompting the Federal Reserve to maintain a smaller rate hike pace.

Stocks on Wall Street

ended the week

higher as Treasury yields eased from their recent highs and investors weighed the cumulative impact from Fed hikes already implemented and digested this week's comments from the central bank.


Dow Jones Industrial Average

rose 1.17%, the

S&P 500

climbed 1.61%, and the

Nasdaq Composite

gained 1.97%. The yield on benchmark

10-year Treasury note

dipped below the 4% threshold.

— CNBC's Tanaya Macheel, Hakyung Kim contributed to this report

CNBC Pro: Wall Street pros name the biggest risk to stock markets — and reveal how to trade it

Stock markets are broadly in the green this year, but there is an uneasiness about the rally, with several risk factors still afflicting the market.

How should investors trade the market? Wall Street pros weigh in with their top ideas.

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Read more


— Zavier Ong

CNBC Pro: Goldman Sachs has added 3 stocks to its conviction buy list, giving one 100% upside

Goldman Sachs

has this year added a number of stocks to its conviction list. These are buy-rated stocks it expects to outperform, and it gave them further share price upside.


— Weizhen Tan

The major averages close higher

Stocks closed higher on Friday, pushing the major averages to a winning week.


Dow Jones Industrial Average

rose 387.40 points, or 1.17%, to 33,390.97. The

S&P 500

climbed 1.61% to 4,045.64, and the

Nasdaq Composite

gained 1.97% to close at 11,689.01.

For the week, the Dow ended up 1.75%. The S&P added 1.9% and the Nasdaq jumped 2.58%.

— Tanaya Macheel

Weaker jobs market could lead to risk-on trade, David Rosenberg says

David Rosenberg, chief economist and strategist of Rosenberg Research, believes the stock market would see a sustained rally when the labor market starts to contract in three to four months.

"Right now you've got a situation where the stock markets and the credit markets seem to think that they have more time that they can buy before the boom really gets lowered on the economy," Rosenberg said on CNBC's "

Fast Money

" Thursday.

"There's no doubt the economy is not strong, but it has to weaken precipitously. Unemployment has to start contracting... I think that's where you're going to find the risk on trade," he added.

The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their biggest gain since July 2022. The Federal Reserve could reverse its tightening policy when the jobs market shows weakness.

— Yun Li

Brent oil prices fall on reports UAE is considering an OPEC departure

Relations between Saudi Arabia and the United Arab Emirates growing more tense, according to a report

by the Wall Street Journal

. Citing Emirati officials, the report said the UAE is debating whether it should depart OPEC.

The news of the potential rupture in the oil cartel put a chill on Brent crude prices. At one point in Friday trading, prices had fallen nearly 3%, before recovering. Recently, the global benchmark was down 0.85% at $84.03.

The two oil producing nations have been jockeying for influence and disagree over the direction of the Yemen war, according to the report.

—Christina Cheddar Berk