Stocks in Asia declined after another round of weak data fueled concerns about recovery in China. The prospect of continued monetary tightening by the Federal Reserve also weighed on sentiment. Shares in mainland China were the worst performers in the region as investors parsed data that showed growth for the second quarter missed estimates. Gross domestic product expanded 6.3% in the second quarter from a year prior, weaker than the median forecast of 7.1% from economists surveyed by Bloomberg. The onshore and offshore yuan weakened. The People’s Bank of China earlier extended support for the currency, but kept its medium-term lending facility unchanged Monday despite mounting market calls for more stimulus. Shares fell in South Korea and were steady in Australia. Japanese markets are shut for a holiday while morning trading in Hong Kong is canceled due to a storm. Contracts for the S&P 500 and Nasdaq 100 were lower in Asia. The rally in US stocks hit a wall Friday after a report showed consumer sentiment climbed to an almost tThe dollar was little changed Monday after a gauge of greenback strength snapped a five-day losing streak Friday. The currency’s weekly slide has the index back near levels last seen in April 2022 as some strategists and investors suggest its long bull run is over. The yen edged higher after Bank of Japan Governor Kazuo Ueda said uncertainty remains high over the US and global economies. He also said there wased Governor Christopher Waller said last week he expected two more rate increases this year to bring inflation down to the 2% goal, though more good data on prices could obviate the need for the second hike. Swaps pricing show expectations the Fed is virtually certain to raise its benchmark rate by another 25 basis points when it meets this month, with a roughly one-third chance it will make one more such move before stopping its cycle.n’t much change in Japan’s bond-market functionality from the previous monetary policy meeting inoil extended declines as China’s growth disappointed and a major Libyan field resumed output. Gold was little changed.
Nikkei -0,09% Hang Seng +0,33% CSI -1,09% Shanghai -1,19% Shenzen -0,78%
Eur$ 1,1224 CNH 7,1804 CNY 7,1692 JPY 138,64 GBP 1,3087 CHF 0,8614 RUB 90,3317 TRY 26,1701 WTI$ 74,74 -0,7% Gold 1,952 -1,2% BTC 30,308 ETH 1,932
S&P -0,08% Nasdaq -0,06% EuroStoxx -0,63% FTSE -0,40% Dax -0,48% SMI -0,13%
Macro :
- EU’s Gentiloni: European Economy is Not Facing Stagflation
- UK Government Considers Scrapping Inheritance Tax, Times Says
- Biden Rejects Oil Refineries Seeking Biofuel-Blending Exemptions
- Crypto Stocks Notch Milestone Week on Positive Ripple Ruling
- Merger-Arb Funds See Tide Turning After FTC’s Big Legal Setback
- Modi and Macron Agree on 25-Year Plan to Deepen Cooperation
- Bitcoin-ETF Review Moves Forward as SEC Acknowledges Filings
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