Asian stock markets assess China's growth target

Asian stocks mixed as investors weigh China’s growth target Stocks in Asia-Pacific were mixed on Monday as investors weighed China’s growth target at parliamentary hearings and awaited a week of economic data. In Australia, the S&P/ASX 200 rose 0.6 percent ahead of a Reserve Bank of Australia decision on Tuesday, with economists expecting a 25 basis point hike in interest rates. The Nikkei 225 rose 1.21 percent and the Topix added 0.9 percent. In South Korea, the Kospi rose 0.4 percent and the Kosdaq rose 1.01 percent as the country’s inflation fell further in February. In mainland China, the Shanghai Composite fell 0.2 percent and the Shenzhen Composite fell 0.32 percent after Premier Li Keqiang released the country’s government work report on Sunday. The Hang Seng index fell 0.35 percent in Hong Kong. U.S. nonfarm payrolls will be a key focus this week, with expectations of hiring that could prompt the Fed to maintain a slower pace of rate hikes. Stocks on Wall Street ended the week higher as Treasury yields eased from recent highs and investors weighed the cumulative impact of the Fed’s hikes already in place and digested the central bank’s comments this week. The Dow Jones Industrial Average rose 1.17%, the S&P 500 rose 1.61% and the Nasdaq Composite gained 1.97%. The yield on the benchmark 10-year Treasury note fell below the 4% threshold.