Most Asia-Pacific markets are expected to rise before a week of central bank decisions.

Most Asia-Pacific markets are expected to rise before a week of central bank decisions.
Most Asia-Pacific markets are expected to rise before a week of central bank decisions.
  • This week, the Bank of Korea, Reserve Bank of New Zealand, and Reserve Bank of India will announce their interest rate decisions.
  • According to a Reuters poll of economists, it is predicted that the BOK and RBNZ will reduce interest rates, while the RBI will maintain its current rate.

Central bank decisions from around the region are anticipated by investors, who are optimistic that Asia-Pacific markets will open higher on Monday.

This week, the Bank of Korea, the Reserve Bank of New Zealand, and the Reserve Bank of India will announce their interest rate decisions.

According to a Reuters poll of economists, it is predicted that the BOK and RBNZ will reduce interest rates, while the RBI will maintain its current rate.

On Wednesday, the RBNZ is predicted to reduce its benchmark interest rate by 50 basis points to 4.75%, while the BOK is expected to lower its benchmark rate to 3.25% from 3.5% on Friday.

In August, the RBNZ surprised economists by reducing its policy rate from 5.5% to 5.25%.

The futures market in Japan is expected to have a stronger opening, with the Chicago futures contract at 39,925 and the Osaka futures contract at 39,560, compared to the previous close of 38,635.62.

The HSI's last close was higher than Hong Kong futures, which were at 22,640.

Australia's S&P/ASX 200 opened up marginally.

In the U.S, stocks progressed on Friday owing to a better-than-anticipated employment report, which bolstered investor certainty regarding the economy's well-being.

Despite expectations for nonfarm payrolls to grow by 150,000 jobs in September, data showed that the actual gain was 254,000 jobs. Additionally, the unemployment rate decreased to 4.1% from 4.2%, which was forecasted to hold steady.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all experienced gains, with the S&P 500 rising 0.9%, the Nasdaq Composite jumping 1.22%, and the Dow Jones Industrial Average adding 0.81% to reach an all-time closing high of 42,352.75.

—CNBC's Lisa Kailai Han and Alex Harring contributed to this report.

by Lim Hui Jie

Markets