Sept 30 (Reuters) – A look at the day ahead in Asian markets.

This follows the slew of monetary, fiscal and liquidity support measures announced last week – China’s biggest stimulus package since the pandemic – that triggered the most explosive stock market rally in years.

The upside for markets on Monday may also be capped by investors closing their books for the quarter, and ahead of China’s Golden Week holiday that starts on Tuesday.

China’s markets could get a reminder of cold economic reality, with the National Bureau of Statistics PMIs expected to show that factory activity contracted for the fifth consecutive month in September.

It will take time for Beijing’s stimulus to filter through to hard activity data, so investors may have to continue putting up with some sobering numbers in the coming weeks and months.

But the wave of optimism equity washing over markets is undeniable. Shanghai’s blue chip index rose nearly 16% last week and the broader Shanghai composite jumped nearly 13%, both the weekly biggest gains since November 2008.

Hong Kong’s benchmark Hang Seng index delivered its biggest weekly rise since 1998, and fifth largest in the last half century. Mainland Chinese property stocks, meanwhile, leapt 16%.

Here are key developments that could provide more direction to Asian markets on Monday:

– China official and unofficial PMIs (September)

– Taiwan GDP (Q2, final)

– Japan retail sales, industrial production (August)

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