November 22, 2024

Brighton Journal

Complete News World

Chinese trade data; China Consumer Price Index, Producer Price Index

Chinese trade data; China Consumer Price Index, Producer Price Index

“China’s growth rebound and North Asia’s earnings rebound in 2024 remain our key investment themes and overweight areas,” Goldman Sachs strategists, led by Timothy Mu, wrote in a note on Saturday.

VCG | China Optical Group | Getty Images

Most Asia-Pacific markets rose on Monday, as investors weighed China’s weekend press conference and awaited a slew of economic data from the region this week.

The CSI 300 index in mainland China rose 1.9% to close at 3,691.3, after a volatile trading session. Hong Kong’s Hang Seng Index fell 0.9% in the final hour of trading.

Both indices fluctuated between gains and losses in real-time trading, which confirms investors’ differing reactions to Chinese stimulus promises.

The mainland Hang Seng Real Estate Index rose 2.5%, while the Hang Seng Tech Index fell 1.7%.

Chinese Finance Minister Lan Fuan hinted at a long-awaited news conference on Saturday at issuing more debt amid efforts to support the economy, noting that the government has “fairly significant” room to increase the deficit.

China Deflation fears worsened in September With consumer prices rising at the slowest pace in three months, 0.4% from a year earlier, while the producer price index fell at the fastest pace in six months, down 2.8%. Both measures missed the expectations of economists polled by Reuters, who estimated the CPI would rise by 0.6% and the producer price index by 2.5%.

China is due to publish its September trade data on Monday, with exports expected to rise 6%, slower growth than 8.7% in August, while imports are expected to grow 0.9%, compared to 0.5% in August.

See also  Bitcoin (BTC) prices test $66,000 as traders expect more volatility before calming down

China watchers are also looking forward to the week with a crowded set of economic data, including China’s third-quarter GDP, September industrial production growth, retail sales and the unemployment rate.

The Japanese market was closed for holiday.

Australia Standard & Poor’s/ASX 200 It rose by 0.47% to close at 8,252.8.

Taiwan markets rose 0.32% to settle at 22,975.29.

South Korea’s Kospi blue-chip index rose more than 1% to close at 2,623.29, while the Kosdaq small-cap index ended nearly flat at 770.26.

In the United States, stock futures were little changed in overnight trading on Sunday, as investors waited to evaluate the next batch of major corporate earnings.

Dow Jones Industrial Average futures traded near the flat line. Standard & Poor’s 500 futures were flat, while Nasdaq 100 futures fell by 0.1%.

Last week, the three major indexes posted gains for the fifth straight week, with the S&P 500 and Dow Jones Industrial Average hitting all-time highs and closing at record levels on Friday.

— CNBC’s Yun Li contributed to this report.