Due to Growth Headwinds, Chinese Stocks Lead Asia Lower – Asia Market Wrap

Due to worries about a sluggish real estate market and an unclear growth outlook, Chinese shares led losses in Asian stocks. As investors made preparations for this week’s US inflation data and Federal Reserve meeting, the majority of other regional benchmarks also declined.

Both Hong Kong and mainland China benchmarks were on track to close at their lowest points since April. Before the European Commission’s decision on interim charges, which is anticipated this week, shares of companies that manufacture electric vehicles fell sharply, and businesses in the tourism sector saw a decline due to the low demand for travel over the recent Dragon Boat Festival holiday.

In Asia, treasuries slipped. Bonds in Australia fell, matching the Treasury market’s movement on Friday as traders extended their forecast for Fed interest rate decreases.

According to a survey, conditions in Australia declined to below-average levels in May, indicating that the corporate sector is being negatively impacted by rising interest rates and deteriorating consumer confidence.