“China’s growth recovery and North Asia’s earnings rebound in 2024 will remain our key investment themes and overweight areas,” Goldman Sachs strategists led by Timothy Mo wrote in a note on Saturday.
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Asia-Pacific markets were mixed on Monday as investors weighed China’s weekend press conference and looked ahead to a slew of economic data from the region this week.
Mainland China’s CSI 300 rose 1.5% in active trade, while Hong Kong’s Hang Seng index fell 0.7%.
The Hang Seng Mainland Properties Index rose 1%, while the Hang Seng Tech Index fell 2.45%.
China’s Finance Minister Lan Fo’an hinted at over-leveraging amid efforts to boost the economy at a much-anticipated press conference on Saturday, saying the government had “rather large” room to increase the deficit.
of China Deflationary pressure deepened in September Consumer prices rose 0.4%, the slowest pace in three months, while the producer price index fell 2.8%, the fastest pace in six months. Both readings missed the expectations of economists polled by Reuters, who forecast CPI rising 0.6% and PPI falling 2.5%.
China is due to release its trade data for September on Monday, with exports expected to rise 6%, slower growth than August’s 8.7%, and imports estimated to grow 0.9% compared with 0.5% in August.
China watchers also look ahead to the week with a busy set of economic data, including China’s third-quarter gross domestic product, September industrial production growth, retail sales and the unemployment rate.
The Japan market is closed for the holidays.
of Australia S&P/ASX 200 rose 0.4%.
South Korea’s blue-chip KOSPI rose 1%, while the smaller-cap KOST index fell 0.5%.
Stateside, stock futures were little changed in late night trading on Sunday as investors waited to assess upcoming key corporate earnings.
Dow Jones Industrial Average futures traded near the flatline. S&P 500 index futures were flat, while Nasdaq-100 futures fell 0.1%.
— CNBC’s Yun Li contributed to this report.
