Asian stocks fall as investors await US Fed decision, China data weak

From Investing.com: 2024-12-15 22:20:28

Most Asian stocks fell as investors awaited the U.S. Federal Reserve’s interest rate decision. Weak retail sales data in China raised concerns about the economy’s recovery pace. China’s industrial output grew as expected, but retail sales fell short of forecasts, highlighting ongoing weakness in consumer spending. The Fed is expected to cut rates by 25 basis points, but inflation remains a concern.

Chinese shares reversed course, with the Shanghai index inching 0.1% lower and the CSI 300 declining 0.4%. Hong Kong’s Hang Seng index fell 0.8%. Japan’s Nikkei was largely unchanged, and the BOJ is expected to maintain interest rates amid global risks. South Korea’s KOSPI was stable after President Yoon Suk Yeol’s impeachment.

Global investors are cautious ahead of the Fed meeting, with Australia’s ASX losing 0.3% and Indonesia’s IDX dropping 0.9%. India’s Nifty indicated a slight rise, while Malaysia’s KLCI edged up 0.2%. The soft retail data in China dampened sentiment across Asian markets, highlighting concerns about an uneven economic recovery.



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