Asia stocks rise on positive Chinese PMI data, but gains limited by Trump's tariff threat

From Investing.com: 2024-12-01 22:15:21

Most Asian stock markets rose on Monday, led by China’s gains in response to positive factory activity data. Chinese indexes climbed 0.5% and 0.8%, while Hong Kong’s edged up 0.2%. The data showed an expansion in factory activity, with the PMI rising to 50.3 in November, the highest since June, driven by government stimulus.

However, gains were limited by Trump’s threat of imposing 100% tariffs on goods from BRICS nations if they undermine the U.S. dollar. This follows his vow to increase tariffs on China, Mexico, and Canada, potentially reigniting a trade war. South Korea and the Philippines saw gains, while Japan’s factory activity shrank for the fifth month.

Investors are awaiting key economic cues this week, including Australia’s GDP data, Fed Chair Powell’s speech, and U.S. economic data. The Reserve Bank of India is also expected to keep rates unchanged amid persistent inflation concerns. Markets will be closely watching for hints on global interest rates.



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