“A recovery in China’s economic growth and an earnings rebound in North Asia in 2024 remain key investment themes and overweight areas for us,” Goldman Sachs strategists led by Timothy Moe wrote in a note on Saturday.
VCG | Visual China Group | Getty Images
Asia-Pacific markets opened higher on Monday as investors assessed China’s weekend news conference and awaited a slew of economic data from the region this week.
China’s Finance Minister Lan Fo’an hinted at a much-anticipated news conference on Saturday that more debt will be issued to boost the economy and said the government had “considerable” room for deficits.
At the same time, China’s Deflationary pressure deepened in September Among them, the consumer price index increased by 0.4% annually, the slowest increase in three months; the producer price index fell by 2.8%, the largest decrease in six months. Both measures were below expectations of economists polled by Reuters, who expected CPI to rise 0.6% and PPI to fall 2.5%.
China will release trade data for September on Monday, with exports expected to grow 6%, down from 8.7% in August, and imports expected to grow 0.9%, down from 0.5% in August.
China watchers also looked ahead to a busy series of economic data this week, including China’s third-quarter GDP, September industrial output growth, retail sales and unemployment rate.
Japanese markets were closed for a holiday.
Hong Kong Hang Seng Index futures were at 21,274 points, slightly higher than the previous closing of 21,251.98 points.
Australian S&P/ASX 200 Index It opened up 0.27% on the day.
South Korea’s blue-chip Kospi index rose 0.63%, while the small-cap Kosdaq index fell 0.43%.
Domestically, stock futures were little changed in overnight trading on Sunday as investors waited to assess an incoming batch of key corporate profits.
Dow Jones Industrial Average futures are trading near the flat line. S&P 500 futures were flat and Nasdaq 100 futures fell 0.1%.
—CNBC’s Li Yun contributed to this report.
About The Author
