Asia markets set to open higher as investors await a slew of data releases

Asia-Pacific markets are set to mostly climb Monday, with investors watching a slew of data points, including South Korea's and Japan's industrial output figures for May and China's purchasing managers' index readings for June.

Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 40,725 while its counterpart in Osaka last traded at 40,580, against the index's Friday close of 40,150.79.

Australia's S&P/ASX 200 is slated to start the day higher, with futures tied to the benchmark at 8,521, compared to its last close of 8,514.20.

Futures for Hong Kong's Hang Seng index stood at 24,182, pointing to a weaker open compared to the HSI's last close of 24,284.15.

U.S. equity futures rose in early Asia hours before the year stretches into the second half.

All three key benchmarks on Wall Street rose sharply in last Friday's session. The broad-based S&P 500 hit a new record in more than four months after ending the session about 0.5% higher at 6,173.07 — overtaking its previous record of 6,147.43.

The Nasdaq Composite also reached an all-time high, closing at a record after adding about 0.5%, while the Dow Jones Industrial Average rose nearly 1%.

The three benchmarks have staged a sharp recovery this month from the lows seen in April during the height of trade policy tensions. The whipsaw of global trade negotiations can quickly sway market sentiment and pose an ongoing threat to the strength of this rally.