Investing.com - Asian shares gained on Monday as strong export data from China and upwardly revised growth figures from Japan supported regional sentiment.
The Nikkei 225 rose 0.52%, while the Shanghai Composite rose 0.38% and the Hang Seng index gained 0.71%.
Japan raised its economic growth reading for the first quarter, as capital spending was higher than initially thought. Japan''s gross domestic product increased at an annualized rate of 6.7% in the first three months of the year, up from an original estimate of a 5.9% expansion.
South Korea''s KOSPI was up 0.1%. Australian markets were closed for a public holiday.
At the weekend, China showed a better than expected surplus for May, coming in at $35.92 billion, the largest since $39 billion in January 2009.Exports were up 7.0%, and imports dropped 1.6%, which is bearish for the Australian dollar as the China is a top export destination.
Last week, U.S. stocks rose after data revealed the U.S. economy added more than 200,000 new nonfarm payrolls in May for a fourth consecutive month.
Tthe Dow 30 rose 0.52%, the S&P 500 index rose 0.46%, while the NASDAQ Composite index rose 0.59%.
The U.S. Labor Department reported earlier that the economy added 217,000 in May, close to market expectations for a 218,000 increase, after a 282,000 rise in April, whose figure was revised down from a previously estimated 288,000 gain.
U.S. stocks continued to applaud the European Central Bank''s decision to cut its benchmark interest rate on Thursday to a record-low 0.15% from 0.25%, cut its deposit rate to -0.1% and said it will support the banking sector to spur lending via targeted long-term credit injections.
In the week ahead, investors will be looking ahead to Thursday’s U.S. retail sales report for further indications on the strength of the economic recovery. A rate review by New Zealand’s central bank and the latest U.K. jobs report will also be in focus.
On Monday, Canada is to publish data on housing starts.