Asian Stocks Vary While Investors Watch the US CPI – Asia Market Wrap
Asian markets traded in tight ranges as traders awaited US inflation statistics due this week to determine the extent of the Feds upcoming interest rate cut.
A key Asian equity index remained stable, but stocks in mainland China and South Korea fell. Tokyo and Sydney both posted slight gains following a good session in US shares, which was fuelled by renewed dip-buying. Benchmark Treasuries rates were unchanged, while the dollar climbed for the third consecutive day.
The market’s movements reflect investors’ caution as they seek to balance US recession fears with the prospect of a soft landing. Former President Donald Trump will face off in a discussion with US
Meanwhile, China’s Dollar exports in August increased by 8.7% year on year, according to the Customs General Administration of the People’s Republic of China. That exceeded expectations of 6.6%. Imports rose only 0.5%, leaving a trade surplus of $91 billion for the month.
Iron ore will also be being followed on Tuesday, after falling below $90 per tonne for the first time since 2022 before rising 1.1%. Industrial commodities are under continuous pressure from weak Chinese demand and growing concerns about global growth.