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  • Absence of Japanese traders gave little reaction to Spanish election results, China data.
  • Statistics from the US and Eurozone to provide a fresh impulse to global markets.

Beginning of the Golden week holidays at Japan restricted Asian shares’ performance on Monday, giving less charm to Spanish election results and upbeat play by the Wall Street, needless to mention about China’s industrial profits.

Japan begins 10-day recess from Monday and makes Tokyo a dull affair for the days to come. The same could be witnessed in the early-day reaction of Spain’s general election where the ruling party held its reins. Additionally, the surge in China’s industrial profits after four months of contraction also fall short of pleasing market players.

MSCI’s gauge of Asia-Pacific shares ex-Japan grew 0.38% as traders recovered losses from the nearly four-week bottom whereas Nikkei 225 future outside Japan managed to remain positive.
China’s HANG SENG gained +0.74% but Australia’s ASX lost around 0.40% as upbeat China data signal lesser stimulus from Australia’s largest customer.

Further, India’s BSE Sensex is nearly 1.0% in gain as election polls are underway in major states today while South Korea’s KOSPI recovered +1.29% losses off its last week’s drop.

Global barometer of risk sentiment, 10-year Treasury yields from the US remain mostly unchanged at 2.5% while writing the article.

Looking forward, Eurozone business confidence and the US personal income and spending details are the only ones on the economic calendar to follow. While Eurozone numbers might question EUR recovery, the US Dollar and the overall market sentiment could check personal spending figures in details to better understand Friday’s consumer spending drop marked in the US Q1 2019 GDP.