Asian markets are expected to extend gains ahead of the region’s business activity data

Muslim worshipers break their fast and eat food on the last Friday of Ramadan, also known as Jumat-ul-Bida, at the Jama Masjid mosque in the old city of New Delhi, India.

Picture of Noor

Asia-Pacific markets were expected to extend Monday’s gains as technology stocks rebounded on Wall Street and investors focused on business activity data from Australia, Japan and India.

S&P Global data showed Australia’s composite purchasing managers’ index rose to 53.6 from 53.3 in March, a two-year high.

Purchasing Managers’ Index data from Japan and India will be released later on Tuesday.

The future is S&P/ASX 200 Index The opening price was 7,693 points higher than the last closing price of 7,649.2.

of Japan Nikkei 225 index Both the Chicago and Osaka futures contracts were at 37,740 points, while the index last closed at 37,438.61 points.

Hong Kong Futures Hang Seng Index The Hang Seng Index closed at 16,681 points, a weaker start than the Hang Seng Index closing at 16,511.69 points.

Overnight in America, S&P 500 Index And Nasdaq Composite Index The two ended six consecutive declines, rising 0.87% and 1.11% respectively, while Dow Jones Industrial Average increased by 0.67%,

A favorite among chipmakers and artificial intelligence Nvidia Shares rose 4.4%, rebounding from a nearly 14% selloff last week that was the worst since September 2022. Arm Holdings It also rebounded around 7% on Monday.

If Iran does not say that the price of US crude oil has decreased, the conflict with Israel will intensify. Investors worry that rising oil prices could lead to inflation, which could delay the Federal Reserve’s interest rate cuts.

—CNBC’s Brian Evans and Jesse Pound contributed to this report.