Asia markets rallied significantly after the rally on Wall Street on Friday

China’s listed state-owned banks saw sharp gains on Monday after an increase Chinese banks cut deposit rates As lenders suffered from shrinking profit margins.

Hong Kong-listed shares of China’s Bohai Bank rose nearly 3% and China’s Qishang Bank rose 6.9% as mid-sized banks cut rates by between 10 basis points and 30 basis points.

This step will help boost banks’ margins and support increased spending and demand for credit, in line with the government’s goals for the economy.

Mainland-listed shares of ICBC, China Citic, Bank of China, Agricultural Bank of China and Bank of Communications also rose.

China’s energy stocks also saw a boost as oil prices recovered, which ended the week higher. Shares related to electric vehicles saw sharp gains after China’s State Council expressed support for the construction of charging stations in China.

The Shanghai Composite Index led the gains in the region and gained 1.81%, hovering at a 10-month high. The Shenzhen component rose 0.4%.

– Jihe Lee

This would be a good opportunity to get copper if prices fall below a certain level, said Ed Morse, global head of commodities research at Citi.

“We think copper will be a buying opportunity if it drops below $8,500,” Morse said, adding that he expects the metal to be priced in the next year or two at $10,000 a ton and above.

“This is largely because it is an important metal for batteries,” he said, citing other pivotal uses in the electric vehicle industry.

Three-month copper futures were trading on the London Metal Exchange at $8,486.85 a ton Monday morning in Asia.

Supply concerns also loom large, Morse continued, referring to South American mining nations like Chile that are becoming “more patriotic.”

– Lee Ying Chan

Jun Seok, a strategist at Morgan Stanley, has made a bullish call in the South Korean market, setting a target of 2,750 on the Kospi Index in 2023, just over 9% from its current level of 2,520.29.

Speaking to CNBC’s “Squawk on the Road” program in South Korea, Jun explained that there are three elements investors should look at: monetary policy, corporate earnings and the country’s capital reform initiative.

As for monetary policy, the key question to ask is when the interest rate cuts will come, he said, given that the Bank of Korea was one of the first in Asia to pause rate hikes.

As for corporate profits, he says that in a multipolar world, Korean companies will have “more opportunities and risks,” noting that the company is optimistic in the material and technical sector.

“We see Korean technology as one of the big beneficiaries,” he told CNBC.

South Korean companies have “proactively adapted” to potential future problems in the global supply chain, John added, adding that they also have “a lot of intellectual property that really helps us.”

– Lim Hwi Ji

Shares of Singapore’s DBS Group Holdings rose 0.94%, even after regulators raised the bank’s capital requirements.

On Friday, DBS suffered a widespread outage of digital banking and ATM services, the second such outage in less than two months.

The Monetary Authority of Singapore said The additional capital requirement for DBS is now a 1.8 times multiple of its risk weighted assets for operational risk – approximately S$1.6 billion (US$1.21 billion) of total additional regulatory capital.

In February 2022, MAS applied a 1.5 times multiplier for another disruption in November 2021.

A private survey showed that Japan’s service sector expanded at a record pace in April.

Bank au Jibun The Japanese Services PMI was at 55.4, higher than March’s figure of 54.9 and marking the fifth consecutive month in expansion territory.

A reading above 50 indicates expansion in the sector, while a number below 50 indicates contraction.

Japan’s composite PMI for April – which combines manufacturing and service sector figures – came in unchanged at 52.9.

This marks the fastest pace of growth since June 2022, and the fourth month in a row that the Composite PMI has remained above the 50 mark.

– Lim Hwi Ji

BoJ board members discussed concerns about higher-than-expected inflation, minutes From the last meeting of former Governor Haruhiko Kuroda showed.

“Some members acknowledged that while the present situation is a phase of closely watching whether a virtuous cycle between prices and wages is to be achieved, due attention is warranted to the risk of higher prices than expected,” the minutes read.

The central bank’s board members shared “in acknowledgment that the rate of increase is expected to accelerate again moderately” after slowing towards the middle of fiscal 2023.

They also warned of “hasty” changes in the central bank’s monetary policy, including an inflation target of 2%.

The minutes of the meeting showed that “the risk arising from an accelerated policy change that may lead to losing the opportunity to achieve the price stability target should be considered more important than the risk of delay in changing the policy.”

– Jihe Lee

A Reuters poll of economists showed that China’s trade surplus is expected to have narrowed slightly from $88.2 billion in March to $74.3 billion in April.

Exports are expected to grow 8% y/y after growing 14.8% in March, while imports are expected to remain unchanged after falling 1.4% y/y the previous month.

Goldman Sachs economists said in a note on Monday that the weaker trade data in April likely reflects the “lingering seasonality” after this year’s Lunar New Year.

“We expect the dissipation of this seasonal bias to slow export growth in April. We expect import growth to slow month-on-month,” the economists wrote, adding that seasonal patterns related to the holidays are not so conspicuously observed in imports.

The economy is also scheduled to release inflation data later in the week.

– Jihe Lee

A number of economic data is expected next week for the Asia-Pacific markets, including inflation data in China, Indian industrial production and the trade balance of the Philippines.

On Monday, Taiwan announced its trade data. Citi economists forecast that in April, Taiwan’s exports fell 21.4% year-on-year and imports fell 22.6% year-on-year.

“Non-technology exports to China have yet to recover (as trade data from China suggests) and lower commodity prices will depress exports,” Citi economists wrote in a note on Thursday.

China’s trade data for April will also be released on Tuesday along with Malaysia’s GDP.

On Wednesday, South Korea’s current account balance for March and the unemployment rate for April are expected.

China’s PPI and CPI are due to be released on Thursday. For the month of March, China’s CPI reading increased marginally by 0.7% year-on-year, while the PPI posted a decline of 2.5% year-on-year. The Philippines reported its Q1 GDP on this day as well.

Indian Industrial Output for March will be published on Friday after posting 5.6% annualized growth in February. Citi economists expect the headline inflation rate to decline around 4.8% year-on-year, marking the first reading below 5% since November 2021.

– Jihe Lee

Morgan Stanley predicts that global spending on education will reach $8 trillion by 2030, saying there are market opportunities that are “just beginning with technology”.

Morgan Stanley has named seven stock picks to take advantage of this trend.

CNBC Pro subscribers can read about four of them here.

– Wizen tan

Major European companies posted bumper profits over the past two weeks.

However, according to Bank of America strategists, there were more ratings downgrades than analyst upgrades to the company’s earnings estimates.

The investment bank scrutinized large European stocks that saw an increase in net earnings per share revisions.

CNBC Pro subscribers can read more about the 10 stocks they’ve highlighted here.

– Ganesh Rao

Wall Street analysts see recent results from Apple as another sign of the tech giant’s continued resilience and defensive standing.

According to Amit Daryanani of Evercore ISI, the results confirm the diversification of the company’s revenue streams and show the “core consumer nature” of the iPhone.

The stock rose 2.7% in pre-market trading.

Read more about what analysts are saying after Apple’s results here.

WTI (June) settled up 4.05% on Friday at $71.34, after hitting a high of $71.81 earlier on Friday. This was the highest level since May 2^{second abbreviation,} When WTI was trading at $71.42

Meanwhile, WTI is down -7.09% week-to-date for the three^{Research and development} A negative week in a row and the worst week since March 17, when WTI lost -12.96%

Brent crude settled, up 3.86%, to $75.30, to reach $75.75. Brent closed down -5.33% WTD for the 3rd^{Research and development} Negative week in a row.

Natural Gas (JUN) settled up 1.71% at $2.137, after hitting $2.031. Nat gas closed down 11.33% week-to-date for the first negative week in 4 and the worst week since March 10, when natural gas lost -19.24% Natural gas fell 52.25% in 2023.

– Hakyung Kim

The Labor Department said the US economy added 253,000 jobs in April. Economists polled by Dow Jones expected an addition of 180,000 jobs. The report comes after the Federal Reserve raised interest rates by 25 basis points on Wednesday and indicated that a pause was in sight.

Jeff Cox, Fred Imbert

Regional banking shares extended their rally on Friday, led by PacWest with gains of more than 70%.

However, the stock still has a long way to go to recoup all of its losses from this year. In fact, PacWest shares are still trading below where they closed on Wednesday.