Asia-Pacific Markets Mostly Fall After China Reports Lower Inflation Rate
Asia-Pacific markets mostly fell Monday after China’s October inflation numbers came in lower than expected, prompting concerns over the recovery in the world’s second-largest economy.
The country’s inflation rate declined to 0.3%, missing expectations of 0.4% and also lower than the 0.4% seen in September. Inflation fell for a second straight month and dropped to its lowest in four months, LSEG data showed.
On Monday, China kicks off its Singles’ Day — the equivalent of Black Friday in the country. A note from ING on Friday said that Singles’ Day will show how consumption was faring in China
“We suspect that given the shift toward value-for-money purchases and online shopping, we’ll continue to see solid growth numbers from the event that should comfortably outpace the overall consumption growth momentum.”
Sumber: FXSreet
