MarketsFast Asia Open: China markets return from holiday

China will be back on the agenda for regional investors as the market returns after last week’s national holiday. That provides some additional food for thought, with investors also weighing up Friday’s US non-farm payrolls report, which did little to allay concerns1 about the timing of the first interest rate rise from the Federal Reserve, and saw Wall Street sink on the mixed data. The S&P 500 ended 1.5 per cent lower, while the Dow Jones Industrial Average was down 1.7 per cent and the Nasdaq Composite was off 1.1 per cent.

Futures tip Japan’s Nikkei to open 1.3 per cent lower, Hong Kong’s Hang Seng to drop 0.9 per cent and Australia’s S&P/ASX 200 to decline 0.6 per cent after indices struggled last week2 despite the absence of volatile Chinese markets on Thursday and Friday.

At the weekend, G20 officials sought to play down concerns about a slowdown in China, while People’s Bank of China governor Zhou Xiaochuan said the market’s correction was mostly over3.

Here are the highlights of the economic calendar (all times Hong Kong):

  • 09.30: Australia August ANZ job advertisements

  • 13.00: Japan July preliminary leading index, coincident index

  • 16.00: Taiwan imports, exports, trade balance

References

  1. ^ did little to allay concerns (www.ft.com)
  2. ^ struggled last week (www.ft.com)
  3. ^ market’s correction was mostly over (www.ft.com)

Leave a Reply

Your email address will not be published. Required fields are marked *

*