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Asian markets win when investors weigh the latest economic data



Asian markets were generally higher in early trading on Monday, as investors continued to digest recent financial data.

On Sunday, a new report showed China's trade with the United States fell sharply in August, when new tariffs from both sides were announced. US goods imports fell by 22% in August from the previous year to $ 10.3 billion, toll data shows Sunday. Exports to the United States, China's largest market, fell 16% to $ 44.4 billion.

Several customs duties came into force on September 1, and the next round of customs duties for Chinese goods is scheduled to enter into force on October 15. Last week, the US and China said they had agreed to renew the trade negotiations in early October.

On Monday, the Japanese government released revised economic growth data for the April-June quarter. The Cabinet Office said that gross domestic product, or GDP ̵

1; the total value of the country's goods and services – had grown at an annual rate of 1.3%.

It was slightly lower than the previous estimate for a growth of 1.8%. The data showed that private demand had grown at a lower rate, but government investment had risen higher than the previous estimate.

Japanese Nikkei

NIK, + 0.56%

rose 0.5% while Hong Kong's Hang Seng Index

HSI, -0.04%

slipped 0.1%, while protocol protests continued over the weekend. Shanghai Composite

SHCOMP, + 0.64%

achieved 0.4% and the smaller cap Shenzhen Composite

399106, + 1.54%

advanced 0.9%. South Korea's Kospi

180721, + 0.57%

rose 0.6%, while reference indices in Taiwan

Y9999, + 0.19%

Singapore

STI, + 0.11%

and Indonesia

JAKIDX, + 0.21%

made small gains. Australia's S & P / ASX 200

XJO, + 0.03%

increased 0.1%.

Among individual stocks, the convenience store chain FamilyMart

8028, + 2.36%

increased in trade with Tokyo, as did the telecommunications company NTT Docomo

9437, + 2.07%

while SoftBank

9984, -0.84% ​​

falls. In Hong Kong, PetroChina

857, + 3.76%

and Sunny Optical

2382, + 0.77%

achieved while real estate developers like New World

17, -1.17%

decreased. Samsung

005930, + 1.19%

advanced in South Korea, while Beach Energy

BPT, -1.00%

fell in Australia.

“A mixed set of wires is setting Asia up for a muted start to a week focused on monetary policy. China's trade data had been one to disappoint this weekend after further announcements of monetary stimulus, "said Jingyi Pan, IG strategist at Singapore Singapore.

U.S. The stock indices ended last week, little changed after a day of mostly quiet trading limited the S&P 500's other weekly gains.

Traders had a muted response to new data showing that US employers added fewer than expected jobs in August. The report also indicated that more people entered the workforce last month, wages rose more than expected and unemployment remained close to the lowest level in five decades.

The job report was the latest in a mixed group of financial data that investors examined this week looking for clues as to how the economy is weathering the costly trade war between the US and China. Their concern: tariffs imposed by each side on billions of goods could slow global economic growth and threaten to push the United States into a recession.

Mixed financial data aside, investors have been encouraged this week by news of broadcasts from Washington and Beijing planning to launch a new trade round next month.

S&P 500

SPX, + 0.09%

gave 2.71 points, or 0.1%, to 2,978.71. The benchmark index rose 1.8% for the week. Dow Jones industrial average

DJIA, + 0.26%

rose 69.31 points, or 0.3%, to 26,797.46. Nasdaq

COMP, -0.17%

wobbled large parts of the day, ending with a loss of 13.75 points, or 0.2%, to 8103.07.

The markets have been turbulent in recent weeks as worries for the trade war have grown and subsided. But Wall Street got a modest bounce Friday afternoon after Federal Reserve chairman Jerome Powell said the central bank did not expect a US or global recession. In comments at a conference in Switzerland, Powell noted that the Fed is monitoring a number of uncertainties, including trade disputes, adding that the Fed will "act as appropriate to sustain expansion."

Economists said Friday's work report did little to change their forecasts. for the Fed to reduce the interest rate at its meeting in two weeks. Treasury returns dipped after the report, and traders are almost certain the Fed will cut short-term interest rates by a quarter of a percentage point.

That would be the second such cut since August, after nine increases since December 2015, as the central bank tries to dampen the economy from the US-China trade war. US production has already slumped due to tensions, and the concern is that companies may withdraw use next year.

Benchmark Crude Oil

CLV19, + 1.01%

added 61 cents to $ 57.13 barrel. It increased 22 cents to settle for $ 56.52 a barrel. Burnt crude oil

BRNX19, + 0.84% ​​

the international standard, added 49 cents to $ 62.03 per barrel.

dollar

USDJPY, -0.01%

fell to 106.89 Japanese yen from 106.97 yen on Friday.


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