Asia markets mostly higher; China prices shrink faster than expected
Publishing timestamp: 2023-11-09 02:56:21
Summary
Most Asia-Pacific markets rose after two days of declines, while China's consumer prices shrank faster than expected. South Korea stocks ended marginally higher, while Hong Kong's Hang Seng index dipped. Japan's Nikkei 225 and Topix gained, and Australia's S&P/ASX 200 ended higher. U.S. markets closed higher, with the S&P 500 extending its longest win streak in two years. China's consumer prices fell in October, and producer prices declined for the 13th straight month. Hong Kong listed shares of Country Garden plunged after reports of a rescue by Ping Insurance Group. Morgan Stanley suggests it's a good time to buy gold stocks. BNP Paribas' global chief investment officer sees an opportunity in U.S. "fallen angels" in high-yield credit. Bank of America reports that large-cap active managers had a strong month, but allocations to active funds decreased. Mortgage rates fell, leading to an increase in mortgage application volume. The energy complex continued to decline, with gasoline and crude prices reaching their lowest levels since 2022. The S&P 500 Energy Index is among the worst-hit sectors.
Sentiment: MIXED
Tickers: .N225, 6098-HK, .SSEC, .HSI, .KS11, JPY=, @CL.1, @LCO.1, .AXJO, 2318-HK, .DXY, AUD=, .SZI,
Keywords: australian dollar/us dollar fx spot rate, hang seng index, kospi index, dxy us dollar currency index, nikkei 225 index, economic events, australia, shanghai, world markets, usd/jpy, business news, prices, breaking news: markets, breaking news: asia, markets, shenzhen component index, asia economy, s&p/asx 200, ice brent crude (apr'23), wti crude (mar'23),