From Yahoo Finance: 2024-05-12 19:26:28

Asian stocks are expected to open Monday with slight losses, following signs of a slowing US economy and weak demand in China. Key concerns include declining consumer sentiment and rising short-term inflation expectations. Despite strong earnings growth globally, a miss in credit data from China is causing some unease.

Global stocks saw a third week of gains, led by AI-focused names, even as one-year consumer inflation expectations hit 3.5%. US Treasuries jumped, with Australian yields climbing in early Asian trading. The big test will come with the US April inflation print on Wednesday, potentially impacting market expectations of a rate hike.

President Putin’s surprise move to replace his defense minister may affect key commodities like oil and gold, amid ongoing tensions in the Ukraine conflict. Meanwhile, the US expressed concerns over Israel’s conduct in Gaza, urging a credible civilian protection plan. The US dollar and Swiss franc remained stable in early Asia trading.

Upcoming economic events this week include China’s policy rate decision, Eurozone inflation figures, and multiple Fed officials speaking. Australia will present its annual budget, while key data includes US CPI and retail sales, Japan GDP, and Eurozone industrial production and GDP reports. Stock futures are showing slight losses in early trading.

Stock markets indicated minor losses in key Asian countries like Australia, Japan, Hong Kong, and mainland China, following sluggish signs in the US and China economies. Consumer sentiment decline and rising inflation expectations are key concerns, while strong earnings growth globally provided some support for market sentiment.inflation expectations rose to 3.5%, the highest since November. Australian yields rose in early Asian trading.



Read more at Yahoo Finance: Asian Stocks Eye Sluggish Start After China Data: Markets Wrap