Market Commentary - Foreign Markets
Chinese stocks edge lower after economic data disappoints As on : 16-Dec-24  16:33

Asian stocks ended mixed on Monday as China reported mixed economic data and focus shifted to the Bank of Japan and Federal Reserve rate decisions due this week.

The dollar hovered close to a three-week peak versus major peers and the Japanese yen struggled to recover following its worst week since September after reports emerged that the Bank of Japan is leaning towards keeping rates steady this week.

Gold ticked higher in Asian trade while oil prices dipped on China demand concerns.

China's Shanghai Composite index dipped 0.16 percent to 3,386.33 as traders weighed mixed readings against a vow from the nation's regulators to stabilize markets.

Hong Kong's Hang Seng index fell 0.88 percent to 19,795.49 despite reports that China might cut interest rates and the reserve requirement ratio in a timely manner next year.

China's official data released today painted a mixed picture for growth in November.

Industrial production posted a faster expansion and house prices fell at slower pace, while retail sales growth softened, highlighting the need for additional stimulus to retain sustainable growth.

Powered by Capital Market - Live News