Investors were looking ahead to the release of China's economic growth data for April-June, a key indicator for trade, manufacturing and investments with implications for the entire region. Singapore is also releasing GDP data.
While investors are hoping for an improved outlook thanks to the reopening of the Chinese economy following its own early outbreaks, share prices are much higher than justified by the numbers, analysts said. On Friday, the Dow Jones Industrial Average rose 1.4% to 26,075.30 while the Nasdaq composite added 0.7% to 10,617.44, a new high.
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