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Asian Stocks Poised to Fall as China Economic Worries Grow

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Asian Stocks,China Economy,US Markets

Concerns over the health of the Chinese economy are driving Asian stock markets lower on Monday, while US equity futures remain steady. Factors contributing to the bearish sentiment include government spending cuts in China, a rising youth unemployment rate, and potential new US regulations banning Chinese hardware and software from connected vehicles.

-- Asian stocks are poised to fall early Monday as concerns over the health of the Chinese economy grow. US equity futures were steady.Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public TransportContracts in Australia, Hong Kong and mainland China point to an early loss at the Monday open, while moves in Asia may be exacerbated by thin liquidity with Japanese markets closed for a holiday. The S&P 500 closed 0.2% lower on Friday following a quarterly options expiry.

Broadly, markets are readying for the final quarter after the Federal Reserve began its long awaited rate cut cycle last week, lifting everything from Indonesian bonds to gold. Data this week including the Fed’s preferred measure of inflation should confirm whether the rally will extend, with a deterioration likely lifting odds of a further 50 basis point cut.

The dollar was little changed against major peers early Monday. Cash trading of US Treasuries was closed in Asia due to the holiday in Japan. Australian bond futures edged lower ahead of the Reserve Bank of Australia extending a policy pause on Tuesday as housing costs underpin sticky inflation.

 

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