Asia-Pacific markets mostly fall as investors digest Chinese economic data
Publishing timestamp: 2023-01-17 00:41:26
Summary
Asia-Pacific markets traded Tuesday as investors digested Chinese economic data. In mainland China, the Shenzhen Component and Shanghai Composite fell while Hong Kong's Hang Seng index and Hang Seng Tech index also shed. Stocks in Japan rose, with the Nikkei 225 leading gains in the region. In Australia, the S&P/ASX 200 lost 0.03%. China's "exit wave" has dragged down the economy significantly, according to Goldman Sachs economists. Iron ore prices are forecast to be around $130 to $140. Rio Tinto posted their fourth quarter production results which slightly beat estimates. China's December retail sales beat estimates, falling only 1.8% on an annualized basis. Alibaba's shares rose after Wall Street Journal reported that Ryan Cohen built a stake in the company. U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier Liu He will meet in Zurich on Jan. 18. Singapore's non-oil domestic exports fell 20.6% in December. Shares of a carbon capture company are expected to rise by 65%. The Nasdaq Composite is leading the way, adding 5.9% so far this year. Stock futures were lower despite the market coming off a winning week.
Sentiment: NEUTRAL
Tickers: @LCO.1, .SZI, .IXIC, .HSI, AUD=, .SSEC, @CL.1, JPY=, .DJI, .SPX, .AXJO, JP10Y-JP, RIO-AU, .N225, .DXY, .KS11,
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Source: https://www.cnbc.com/2023/01/17/asia-pacific-markets-china-gdp-economic-data-boj-jgb.html