Major stock markets in the Asia-Pacific region edged up on Monday, following Wall Street's significant gains recorded in the last trading session. Furthermore, South Korea's government announced it will consider tax reform to revive the country's economy amid rising fears of inflation.
However, the annual inflation in New Zealand recorded its 32-year high in June, reaching the rate of 7.3%. In addition, Shanghai is preparing for mass COVID-19 testing in the coming week as the number of coronavirus-positive patients continues to grow.
South Korea's Kospi increased by 1.42% at 4:37 am CET, while the Australian S&P/ASX 200 rose by 0.51% at the same time. A minute later, Hong Kong's Hang Seng grew by 1.31%. The Shanghai Composite improved by 0.89%, and the Shenzhen Composite advanced by 0.48% at 4:40 am CET. Japan's Nikkei 225 is closed today for a holiday. The American dollar was 0.30% down against the Japanese yen, going for ¥138.11600 at 4:44 am CET.
