Asian stocks mixed with Japan rebounding and China falling due to property market concerns

From Investing.com: 2024-04-07 21:56:13

Asian stocks were a mixed bag on Monday, with Japanese markets rebounding and Chinese stocks falling due to concerns over the property market. U.S. interest rate cut expectations waned, with U.S. stock futures rising marginally in Asian trade.

Japanese stocks rebounded, with the Nikkei 225 surging 1.6% and the broader Topix adding 1.2%. Bargain buying helped after the worst weekly loss since December 2022. The yen weakened on expected February data, affecting potential further rate hikes.

Chinese stocks fell as trade resumed, with concerns over the property sector. Developer Shimao Group faced a liquidation demand, adding to a list of developers in similar situations. This raised fears of a prolonged downturn in China’s property market and broader economic impacts. Other Asian markets remained stable, with Australia and South Korea showing slight gains.



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