From Finimize: 2024-06-23 23:52:40

Mainland China and Hong Kong stocks plummeted on Monday, with the Shanghai Composite Index falling 0.7% amidst weak economic fundamentals and anticipation of key data releases. The downward trend reflects investor anxiety over the region’s economic health, with the Hang Seng Index also declining by 1.02% as global markets remain cautious.

Investors are bracing for critical data releases like China’s May industrial profits and June’s manufacturing survey. Market valuations are expected to stay subdued with all eyes on the US Personal Consumption Expenditures price index, a vital metric for inflation expectations. The global market mood is mixed, with the MSCI Asia ex-Japan Index down and Japan’s Nikkei Index up.

Global trade tensions heighten market anxiety as China and the EU begin discussing tariffs on Chinese-made electric vehicles. Economic indicators and geopolitical developments are intertwined, creating uncertainty in market movements amidst high stakes. The ongoing trade frictions could impact broader economic policies and trade dynamics, adding to the unpredictability in markets.



Read more at Finimize: China And Hong Kong Stocks Tumble As Investors Await Key Data