Asia Eyes Cautious Open After Worrying China Data: Markets Wrap [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
NASDAQ:AMEX Investor Relations:
coli.com.hk/en/ir
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Source: Yahoo! Finance Canada
(Bloomberg) -- Asian stocks are set for a cautious open Monday after a slew of worse than expected Chinese economic activity data landed over the weekend. Most Read from Bloomberg Futures point to a decline in Hong Kong shares, and a small gain for Australia's benchmark. US equity futures edged lower in early trading after the S&P 500 rose 0.5% on Friday. Moves in Asian markets may be exacerbated by thin trading with Japan and mainland China closed for a holiday. Chinese factory output, consumption and investment all slowed more than forecast for August, while the jobless rate unexpectedly hit a six-month high. Home prices declined from the previous month, adding to a string of poor data that is deepening pessimism among traders wondering if authorities will initiate forceful stimulus to buttress the economy. Sentiment will be hit in Asia as “the falls in housing prices are accelerating, with very little evidence of support coming from the measures that policymakers have roll
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