US Futures Fall & Asian Stocks Rise on China Data – Asia Market Wrap

Asian markets surged after statistics revealed that Chinese consumption increased faster than expected to begin the year. US equities futures fell after Treasury Secretary Bessent described the market’s recent drop as healthy.

Australia, Japan, and South Korea also saw stock market gains. A major index of Chinese stocks listed in Hong Kong rose as high as 1.3%. China’s onshore benchmark CSI 300 Index varied, indicating caution over fears of a worsening property collapse in the world’s second largest economy.

Oil surged for a second day, buoyed by expectations that demand from major importer China will increase. The Dollar remained unchanged. In commodities, gold remained flat after falling for the first time in four days on Friday due to risk sentiment.

Given the mixed signals from the latest Chinese data, investors may move their focus to a critical briefing set for Monday afternoon, when officials are anticipated to reveal additional details on strategies to stabilise the stock and real estate markets, raise salaries, and increase the birth rate. Reviving consumer spending is critical to Beijing’s efforts to fight protectionist US measures that are disrupting global commerce and creating a decline in Chinese exports.