Asia Stocks Rise Eyeing U.S., China Earnings
By wchung | 03 Jul, 2026

Asian stock markets were mostly higher Monday as investors looked to bellwether U.S. companies and China for guideposts to the strength of recovery in two major economies.

Oil prices jumped above $79 a barrel to a 2009 high, while the dollar edged down against the yen and euro. Wall Street futures pointed to a higher open in the U.S.

Most of the region’s markets recouped falls from early in the day that came after quarterly reports Friday from Bank of America and General Electric showed American businesses and consumers were still struggling with debt, suggesting growth in the world’s largest economy would remain weak.

U.S. company results will once again be in focus this week, with consumer companies like Apple, McDonald’s and appliance maker Whirlpool Corp. due to release third-quarter earnings.

Investors will also being eyeing clues about China — whose fast-growing economy has helped bolster markets this year — with this week’s release of figures about manufacturing, retail sales, investment and economic growth.

“People believe the growth will be still strong, and that could continue to support the markets in the short term,” said Peter Lai, investment manager at DBS Vickers in Hong Kong. Still, he cautioned the momentum seem to be slowing after the recent advance in markets.

In Hong Kong, the Hang Seng added 175.90 points, or 0.8 percent, to 22,105.80. China’s Shanghai index rose 2 percent to 3,036.29.

Markets in South Korea, Taiwan and Thailand were modestly higher.

In Japan, the Nikkei 225 stock average shed 21.05 points, or 0.2 percent, to 10,236.51. Australia and Singapore stocks also traded lower.

In oil, benchmark crude for November delivery rose as much as 52 cents to $79.05 a barrel but later fell back and was up 6 cents at $78.56 in Asian trade. The contract added 95 cents on Friday.

The dollar lost ground to 90.59 yen from 91 yen. The euro climbed to $1.4928 from $1.4891.

U.S. futures pointed to a higher start on Wall Street Monday. Dow futures were up 26, or 0.3 percent, at 9,950.

Friday on Wall Street, the Dow fell 67.03, or 0.7 percent, to 9,995.91. The broader S&P 500 index fell 8.88, or 0.8 percent, to 1,087.68, and the Nasdaq composite index fell 16.49, or 0.8 percent, to 2,156.80.

10/19/2009 3:20 AM JEREMIAH MARQUEZ, AP Business Writer HONG KONG