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The Asia-Pacific equity markets were mixed on Monday, taking cues from a strong lead on Wall Street from Friday, following a tumultuous week that saw a steep global selloff followed by a sharp rebound.
The Japan (NKY:IND) market closed. The Japanese yen slipped toward 147 per dollar on Monday, with trading volumes expected to remain thin as Japanese markets are closed for a holiday.
China (SHCOMP) -0.26%. The Shanghai Composite fell on Monday as traders eagerly awaited the release of key domestic economic indicators. The market’s attention is focused on the year-over-year growth in outstanding loans, new yuan loans, and the M2 money supply, all due later today. Also, key data on industrial production, retail sales, and the unemployment rate are expected later in the week.
China recorded a current account surplus of $54.9 billion in the second quarter of 2024, narrowing from the $59.3 billion surplus in the corresponding period of the previous year, according to preliminary data.
Hong Kong (HSI) -0.04%.
India (SENSEX) +0.20%. The BSE Sensex struggled for direction in morning trade on Monday after gaining in the prior two sessions as traders acted cautiously after the latest Hindenburg report and ahead of India’s July inflation data today. Over the weekend, US-based Hindenburg alleged the head of the country’s market regulator was holding offshore funds used by the Adani group.
Australia (AS51) +0.46%. The S&P/ASX 200 Index rose on Monday, extending gains from the previous session.
In the U.S., on Friday, all three major indexes ended a volatile week on a calmer note as the session was relatively uneventful, with no major economic reports or earnings.
U.S. stock futures held steady on Monday as investors looked forward to key inflation data this week to guide the monetary policy outlook: Dow -0.04%; S&P 500 flat; Nasdaq +0.04%.
Traders are now focused on US July inflation and Chinese economic data due this week, including industrial output and retail sales, for insights into global growth prospects. U.S. producer inflation data will be released on Tuesday, followed by consumer inflation figures on Wednesday.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
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