Asian stocks skittish due to mixed China cues, U.S. inflation data awaited

From Investing.com: 2024-05-12 22:30:36

Asian stocks traded flat-to-low on Monday as Chinese markets were hit by mixed economic and policy cues, with U.S. inflation data looming. Reports of potential U.S. trade tariffs on China weighed on sentiment, but a rally in Chinese property stocks helped offset losses. Focus remains on U.S. inflation data and Chinese economic indicators this week.

Chinese stocks struggled as inflation data showed a pickup in consumer prices but a continued decline in producer prices, while reports of more potential U.S. trade tariffs on China added to worries. However, a rally in property stocks and easing home buying restrictions in major cities helped limit losses in Chinese indexes. Hong Kong’s stock index rose 0.5%.

Asia’s markets traded lower overall, with Japan’s Nikkei index down 0.1% and Australia’s ASX 200 shedding 0.1%. Companies like SoftBank, Sony, Alibaba, Tencent, and Tata Steel are set to report earnings this week, adding to market anticipation. Chinese economic data due Friday will also be closely watched.



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