Asia-Pacific markets set to open mixed after China's downbeat economic data

Published On Sep 15, 2024, 8:01 PM

The Asia-Pacific markets are mainly higher as investors react to poor economic data from China and await a decision from the Federal Reserve about monetary policy. China's economic indicators, such as factory output and retail sales, have disappointed, and the urban jobless rate reached a six-month high. Typhoon Bebinca has impacted travel in China. In the background, China's key lending rates are expected to be set soon, while the Fed is likely to cut rates in its upcoming meeting. Overall, the Hang Seng Index saw slight gains.

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Stock Forecasts

FXIView FXI chart on TradingView

Negative

Given China's disappointing economic data, economic recovery for the region seems uncertain. Potentially weaker economic performance could negatively impact stocks associated with Chinese and Hong Kong markets.

SPYView SPY chart on TradingView

Positive

As the Federal Reserve is expected to cut rates, U.S. markets may respond positively. This could enhance investor sentiment towards U.S. stocks.

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