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© Reuters.
Investing.com– Most Asian stocks edged higher on Monday, albeit narrowly, as investors paced ahead of a series of key bank meetings. central this week, but China’s shares fell on persistent signs of slowing domestic inflation.
The regional markets received positive information from Wall Street, after the US bonds on Friday were stronger than expected. The reading showed resilience in the world’s largest economy, although traders also saw the low price of the possibility of an early reduction in interest rates by the Federal Reserve.
was flat on Monday.
Japan was the best performer among its peers, up 1.6% after recovering from heavy losses seen last week. Hawkish signals from the Bank of Japan hurt the country’s stocks, although expectations of a tightening of monetary conditions in Japan remain. still investors in the country’s markets.
Asian stock markets touched higher, although concerns over China and caution earlier this week limited gains. While the central bank is widely expected to hold prices, its outlook for 2024, especially when it plans to start cutting prices, will be closely watched.
Australia rose 0.2%, while South Korea added 0.1%. Behind the Fed, interest rates from , and are also up.
Chinese stocks hit more than 4-year lows as the purge continues
China’s blue index fell 1.3% to its weakest level since the beginning of 2019, while Hong Kong and Hong Kong also recorded declines.
Data released at the end of the week showed China’s economy fell at its fastest pace in three years in November, falling for the 14th consecutive month.
The readings showed that China’s spending did not increase despite the continued investment from Beijing – a situation that is not good for Asia’s largest economy. China is now in a currency contraction for two months in a row, indicating that the economy will shrink in the coming months.
The weather data also comes on top of a more mixed economic reading for November, increasing calls from investors for more stimulus measures from Beijing.
Chinese stocks were the worst-performing business in Asia this year, amid persistent economic slowdown.
Indian stocks are poised to retreat from record highs
Futures for India’s index pointed to a weak opening on Monday, with investors poised to lock in more profits after a series of record highs last week.
Recent gains in Indian stocks have seen them cross the $4 trillion mark in valuation, and have been fueled in particular by the prospect of world’s fastest growing economy.
An important victory of the state election for the ruling BJP party, which is set for the power of the general election in 2024, also increased the optimism in the Indian markets.
The focus this week is on the key, after the Reserve Bank warned about the possibility of economic growth through November.
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