Asia stocks set to rise as investors await China and Australia data this week; Japan and South Korea markets closed

Asia stocks set to rise as investors await China and Australia data this week; Japan and South Korea markets closedAsia-Pacific markets were set to climb as investors awaited the Reserve Bank of Australia's rate decision on Tuesday and China's April trade data on Thursday.

However, the analysts said Australia's inflation data was better than they had expected, and compared to the US, the country's economy had slowed more with the labor market softening substantially. As such, they forecast no change to the RBA's rate of 4.35%.On Monday, composite purchasing managers' index readings will be released by S&P Global for Hong Kong, while service PMI readings will be out for mainland China and India.On Friday in the U.S.

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