Asia Eyes Cautious Open After Worrying China Data: Markets Wrap [Financial Post (Toronto, Ontario, Canada)]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (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. Futures point to a decline in Hong Kong shares, and a small gain for Australia's benchmark. US equity futures were steady 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. China's central bank signaled late Friday it would step up its fight against
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