China stimulus, Japan politics dominate Q3 end
By Jamie McGeever
Sept 30 (Reuters) -A look at the day ahead in Asian markets.
Investors in Asia go into the last trading day of the quarter still riding high on the double dose of stimulus administered earlier in the month by the U.S. Federal Reserve and now by China.
In the latest move, the People's Bank of China on Sunday said it would tell banks to lower mortgage rates for existing home loans by Oct. 31. It is expected to cut existing mortgage rates by about 50 basis points on average.
This follows the slew of monetary, fiscal and liquidity support measures announced last week - China's biggest stimulus package since the pandemic - that triggered the most explosive stock market rally in years.
Japanese markets could be in for a rocky ride on Monday, however, as investors react to the news that former defence minister Shigeru Ishiba will be the country's new prime minister.
Ishiba has been a vocal critic of the Bank of Japan's past aggressive monetary easing, but said on Sunday that policy must remain accommodative as a broader trend, to underpin a fragile economic recovery.
The yen surged nearly 2% on Friday, and Nikkei futures are pointing to a sharp fall at the open on Monday.
The upside for markets on Monday may also be capped by investors closing their books for the quarter, and ahead of China's Golden Week holiday that starts on Tuesday.
Monday's calendar is loaded with major economic indicators, chief among them being China's official and unofficial purchasing managers index data. Also on deck are retail sales, industrial production and housing starts figures from Japan, GDP from Taiwan, and South Korean retail sales and industrial production.
China's markets could get a reminder of cold economic reality, with the National Bureau of Statistics PMIs expected to show that factory activity contracted for the fifth consecutive month in September.
Figures on Friday showed that industrial profits slumped 17.8% in August, the biggest decline this year. Citi's Chinese economic surprises index is hovering around its lowest level in over a year, in contrast to the U.S. surprises index, which is also in negative territory but still the highest in over a year.
It will take time for Beijing's stimulus to filter through to hard activity data, so investors may have to continue putting up with some sobering numbers in the coming weeks and months.
But the wave of optimism washing over markets is undeniable. Shanghai's blue chip equity index rose nearly 16% last week and the broader Shanghai composite jumped nearly 13%, both the biggest weekly gains since November 2008.
Hong Kong's benchmark Hang Seng index delivered its biggest weekly rise since 1998, and fifth largest in the last half century. Mainland Chinese property stocks, meanwhile, leapt 16%.
Here are key developments that could provide more direction to Asian markets on Monday:
- China official and unofficial PMIs (September)
- Taiwan GDP (Q2, final)
- Japan retail sales, industrial production (August)
China's 'official' PMIs https://tmsnrt.rs/3zE86sX
China stocks post best week since 2008 https://tmsnrt.rs/4dz6gru
Reporting by Jamie McGeever; Editing by Lisa Shumaker
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
