Asia markets start week on strong footing; Biden-Xi talks awaited

CNBC’s live blog is providing coverage of the Asia-Pacific markets, which opened higher on Monday after previous declines. Investors are focusing on economic data and the upcoming high-stakes talks between the U.S. and China. Moody’s Investors Service recently downgraded its ratings outlook on the U.S. government, citing rising risks to the nation’s fiscal strength. In the Asian markets, Japan’s Nikkei 225 rose 0.96% and South Korea’s Kospi gained 0.58%. Australia’s S&P/ASX 200 edged 0.27% lower. Futures for Hong Kong’s Hang Seng index pointed to a higher open. Meanwhile, U.S. stocks rallied on Friday, with the Dow Jones Industrial Average and the S&P 500 closing higher. The Nasdaq Composite had its best day since May.