What's Affecting Markets Today
Asian Markets Mixed
Asian markets opened mixed on Monday, with Hong Kong’s Hang Seng index down 0.76%, following disappointing economic data from China. August factory output, retail sales, and investment figures fell short of expectations, while the urban jobless rate hit a six-month high and home prices posted their sharpest decline in nine years. Investors are also focused on the upcoming Federal Reserve policy meeting, where an interest rate cut is expected.
Australia’s S&P/ASX 200 rose 0.44%, and Taiwan’s Weighted Index edged slightly higher. Key markets in mainland China, South Korea, and Japan were closed for holidays.
Typhoon Bebinca disrupted travel in China, cancelling hundreds of flights, with Shanghai bracing for the strongest storm since 1949.
Japan’s inflation is expected to rise in August, fueling speculation that the Bank of Japan will maintain its hawkish stance at Friday’s policy meeting. The Japanese yen strengthened to 140.49 against the US dollar, marking its strongest level in over a year. China will set its loan prime rates on Friday.
ASX Stocks
ASX 200 - 8,130.9 (+0.4%)
Key Highlights:
Leaders
ASB Austal Ltd (+9.15%)
PNR Pantoro Ltd (+8.70%)
BCI BCI Minerals Ltd (+7.41%)
AAI Alcoa Corporation (+5.57%)
DHG Domain Holdings Aus (+5.36%)
Laggards
TLX Telix Pharmaceuticals Ltd (-4.80%)
EMR Emerald Resources NL (-4.29%)
MEZ Meridian Energy Ltd (-4.26%)
WGX Westgold Resources Ltd (-4.17%)
RMS Ramelius Resources Ltd (-3.95%)
