CQQQ - Asia-Pacific markets mixed as traders await US inflation China economic data

2023-09-11 02:06:02 ET

Japan -0.51% . Bank of Japan Governor Kazuo Ueda said over the weekend that the central bank could end its negative interest rate policy when the 2% inflation target is sustainability achieved. He added that the BOJ could have enough data by the end of the year to determine whether it can proceed with policy changes.

China +0.97% . China August inflation: CPI 0.1% y/y (vs. expected 0.2%) & PPI -3.0% y/y (expected -3.0%).

China August M2 money supply +10.6% vs +10.7% y/y expected.

China relaxes rules for insurers to invest in stock markets, on Sunday China's financial regulator reduced the risk weighting it attaches to insurance companies' holdings of blue-chip shares and tech stocks.

Hong Kong -0.93% . Resumes trading following a closure Friday due to bad weather.

India +0.56% .

Australia +0.35% .

Industrial production in Malaysia rose 0.7% year-on-year in July 2023, recovering from a 2.2% fall in the previous month and coming above market expectations of a 0.2% growth.

Retail trade in Malaysia rose 5.5% year-on-year in July 2023, easing slightly from a 5.8% growth in the previous month.

Retail sales in Indonesia rose by 1.6 percent year-on-year in July 2023, slowing sharply from the steepest increase in over a year of 7.9 percent in June while pointing to the second straight month of growth.

In the U.S. on Friday, all three major indexes ended higher , as investors looked forward to the August inflation report next week that will provide further clues on the U.S. interest rate trajectory. The tech-heavy Nasdaq Composite finished +0.09%.

At the same time, the benchmark S&P 500 concluded Friday’s session by +0.14%, while the blue-chip Dow ended +0.22%.

The US will report consumer inflation data on Wednesday and producer inflation figures on Thursday, with analysts expecting a jump due to energy cost pressures. China will release industrial output, retail sales and house sale prices figures on Friday.

Oil prices eased in early Asian trade on Monday as economic concerns in China weighed on fuel demand outlook, but supply cuts keep Brent above $90/bbl.

Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel by 0022 GMT while U.S. West Texas Intermediate crude was at $86.77 a barrel, down 74 cents, or 0.9%.

Gold prices rose on Monday as U.S. inflation data takes center stage this week. Spot gold gained 0.3% to $1,922.89 per ounce by 0313 GMT, having lost 1% in the previous week. U.S. gold futures rose 0.2% to $1,946.30.

Elsewhere, spot silver climbed 0.5% to $23.02 per ounce, platinum was up 0.4% at $896.16 after a 7% decline last week, and palladium edged 0.5% higher to $1,203.68.

Currencies: ( Japanese Yen / US Dollar ( JPY:USD )), ( Chinese Yuan / US Dollar ( CNY:USD )), ( Australian Dollar / US Dollar ( AUD:USD )), ( Indian Rupee / US Dollar ( INR:USD )), ( Hong Kong Dollar / US Dollar ( HKD:USD )), ( New Zealand Dollar / US Dollar ( NZD:USD )).

U.S. stock futures held steady on Monday as investors look ahead to key inflation data this week that could influence the path for US monetary policy: Dow +0.18% ; S&P 500 +0.28% ; Nasdaq +0.43% .

ETFs: ( JEQ ), ( EWJ ), ( DXJ ), ( FXY ), ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).

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