On March 9, 2024, citizens were shopping in a supermarket in Nanjing, Jiangsu Province.
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Asia-Pacific markets were set to fall on Monday after China’s October inflation data was lower than expected, raising concerns about the recovery of the world’s second-largest economy.
The country’s inflation rate fell to 0.3%, below expectations of 0.4% and down from September’s 0.4%. Data for October showed inflation fell for a second consecutive month.
On Monday, China will also celebrate Singles’ Day – the country’s equivalent of Black Friday. one ING’s Notes Singles’ Day will showcase China’s spending, it said on Friday.
“We suspect that given the shift towards value-for-money purchases and online shopping, we will continue to see solid growth numbers for this activity, which should easily outpace overall consumption growth momentum.”
Hong Kong Futures Hang Seng Index The Hang Seng Index closed at 20,265 points, opening weaker than the Hang Seng Index at 20,728.19 points.
Japan’s benchmark Nikkei 225 Index The Chicago futures contract is at 39,305 and the Osaka futures contract is at 39,140, while the index last closed at 39,500.37
Australian S&P/ASX 200 Index It opened down 0.37% that day.
U.S. stocks climbed to new highs on Friday, Dow Jones Industrial Average and S&P 500 Index Donald Trump is having his best week in the next year after winning the election.
The blue chip index rose 259.65 points, or 0.59%, to close at 43,988.99 points. The Dow Jones surpassed 44,000 points for the first time in history
this S&P 500 Index After briefly trading above 6,000 points, it rose 0.38% to close at 5,995.54 points. However, the high technological content Nasdaq Index It rose just 0.09% to 19,286.78.
—CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.
