Major Asian markets closed for holidays, China economic data disappoints | Capital Market News

Last Updated : Sep 16 2024 | 3:31 PM IST

Asian stocks ended mixed on Monday in thin holiday trade as a slew of Chinese data disappointed and caution prevailed ahead of the Fed, BoJ and BoE policy meetings this week, with central banks in Japan and the U.K. both expected to stand pat on rates.

Upcoming U.S. retail sales and industrial production data also remained on investors’ radar.

The dollar weakened while gold held near record highs as investors assessed the chances of an outsized rate cut move by the Federal Reserve on September 18.

Markets in China, Japan, South Korea and Indonesia were closed for holidays.

Hong Kong’s Hang Seng index ended 0.31 percent higher at 17,422.12, reversing an early slide after economic data from China over the weekend disappointed.

Chinese industrial production and retail sales grew less than expected in August, home prices fell at the fastest pace in nine years and unemployment rose, adding to concerns over economic recovery and bolstering the case for additional economic stimulus.

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First Published: Sep 16 2024 | 3:15 PM IST

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Major Asian markets closed for holidays, China economic data disappoints | Capital Market News

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