Japan’s Nikkei 225 tumbled over 4% Monday, while Australia stocks hit a fresh high ahead of key economic data from China.
Japan saw its retail sales for August climb 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. The broad-based Topix saw a smaller loss of 3.13%.
Separately, China will release its official purchasing managers’ index numbers for September, with economists polled by Reuters expecting the manufacturing PMI to come in at 49.5, a softer contraction compared to August’s 49.1.
The Caixin PMI survey, which is a private survey compiled by S&P Global, will also be released Monday.
Australia’s S&P/ASX 200 climbed 0.56%, breaching its all-time high of 8,246.2.
Hong Kong’s Hang Seng index futures were at 20,910, lower than the HSI’s last close of 20,632.30.
Overnight in the U.S., the Dow Jones Industrial Average rose to a new high on Friday as traders assessed fresh data that showed to more progress on reining in inflation.
The 30-stock Dow added 0.33%, ending at 42,313.00. The S&P 500 ticked down 0.13%, while the Nasdaq Composite lost 0.39%.
This comes as traders assess encouraging August inflation data, which saw the personal consumption expenditures price index — the Federal Reserve’s favored measure of inflation — increasing 0.1%, matching expectations from economists polled by Dow Jones.
Source : CNBC