China and Hong Kong markets rise despite weak economic data, focusing on upcoming US inflation report.

From Finimize: 2024-05-31 01:27:32

China and Hong Kong stocks saw gains despite weak economic data. Chinese equities rose after a softer dollar helped broader Asian markets. China’s manufacturing activity fell in May, leading to calls for stimulus. Markets focused on upcoming US inflation report. Shanghai Composite Index up 0.27%, Hang Seng Index up 0.94%.

The weaker dollar boosted risk assets in Asia, following a slowdown in US consumer spending data. Treasury yields dropped, supporting Asian equities. Market watchers are awaiting the US inflation reading to predict the Federal Reserve’s interest rate decisions. Central bank policies will impact global markets in the near future.



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