Asia-Pacific Markets Trade Mixed as U.S. Data Stokes Fears of Sticky Inflation and Slower Growth
Asia-Pacific markets were mixed Monday after Wall Street logged its worst session of the year last Friday on lackluster U.S. economic data that pointed to a slowing economy and sticky inflation.
Australia’s S&P/ASX 200 was flat in choppy trading.
In South Korea, the Kospi fell 0.76%, while the small-cap Kosdaq was down 1.01%.
Hong Kong’s Hang Seng index started the day up 0.13%, while Mainland China’s CSI300 index opened 0.46% lower.
Japanese markets are closed for a public holiday.
Singapore is slated to release its inflation numbers for January later in the day. A Reuters’ poll forecasts the city-state’s consumer price index reading at 2.15% year on year, higher than December’s 1.60%.
Meanwhile, the poll estimates that core inflation rate, which strips out accommodation and private transport costs, will expand 1.5% year on year, lower than the 1.8% rise in the month before.
Source : CNBC
