Asia-Pacific stocks mixed as investors await Chinese industrial profits data for August; oil prices jump 1%

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SINGAPORE — Shares in Asia-Pacific were mixed in Monday morning trade, with China’s industrial profits data for August set to be out later in the day.

In Japan, the Nikkei 225 rose 0.36% while the Topix index advanced 0.57%. South Korea’s Kospi dipped 0.12%.

The S&P/ASX 200 in Australia gained 0.17%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed.

Chinese industrial profits data for August is set to be released at 9:30 a.m. HK/SIN on Monday.

Investors will also continue to watch for developments surrounding China Evergrande Group, as the embattled developer continued to stay silent on its $83 million dollar bond interest payment that was due Thursday.

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Elsewhere, early projections on Sunday pointed to a knife-edge result in Germany federal elections as the country looks for a successor to Angela Merkel, who is preparing to leave office after 16 years in power.

The euro last sat at $1.172, following its bounce last week from below $1.17.

Oil prices jump 1%

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 1.09% to $78.94 per barrel. U.S. crude futures gained 1.23% to $74.89 per barrel.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.279 following its climb late last week from below 93.2.

The Japanese yen traded at 110.75 per dollar, having weakened last week from below 110 against the greenback. The Australian dollar changed hands at $0.7268 following its slide late last week from above $0.729.



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