SHANGHAI, CHINA – MARCH 01: Skyscrapers stand in Pudong Lujiazui financial district on March 1, 2022 in Shanghai, China.
Xiao Yang | Visual Chinese group | Getty’s paintings
Asia-Pacific markets fell on Monday as investors digested key economic data from China.
In the beginning, the world’s number two economy reported that GDP grew 6.3% in the second quarter, lower than economists had expected.
Markets in Hong Kong are prone to be closed for the whole lot of Monday because of the warning issued for Typhoon Talim. The Hong Kong Observatory expects storm signal 8 to stay in effect until no less than 4 p.m.
The Hong Kong Exchange normally cancels morning trading sessions if the typhoon signal is 8 or higher, and all trading sessions for the day will probably be canceled if the typhoon signal is 8 or higher until noon.
In mainland China, Shanghai Composite fell 1.05% and Shenzhen Component fell 0.45%.
In Australia, the so-called S&P/ASX200 was minimally lower. The country will release unemployment figures later this week, which is able to give clues to the Reserve Bank of Australia’s decision on rates of interest.
South Korea’s Kospi fell 0.12%, however the Kosdaq rose 0.11% ahead of June’s trade data release.
Markets in Japan are closed for Sea Day.
In Southeast Asia, Singapore’s domestic non-oil exports fell 15.5% from a 12 months earlier in June, while more trade data from Indonesia will probably be released later.
US markets were mixed on Friday with the Dow Jones Industrial Average hitting its highest level since March as strong performance from a number of the biggest banks and corporations kicked off the earnings season.
Nevertheless, the S&P 500 was down 0.10% and the Nasdaq Composite down 0.18%, but each indices hit their highest intraday levels since April 2022.
— Hakyung Kim and Tanya Maceel of CNBC contributed to this report