Asia-Pacific markets fell Monday after China’s latest stimulus measures underwhelmed and its October inflation numbers came in lower than expected, prompting concerns over the recovery in the world’s second-largest economy.
In Japan, the Nikkei 225 index forged ahead 32.95 points, or 0.1%, to 39,533.32.
Japan’s household spending in September declined at a slower pace than expected, official data on Friday showed. Real household spending fell 1.1%, less
In Hong Kong, the Hang Seng Index dumped 301.26 points, or 1.3%, to 20,426.93.
Korean markets declined to their lowest level since Sept. 11
CHINA
In Shanghai, the CSI 300 regained 27.08 points, or 0.7%, to 4,131.13.
Beijing announced a five-year stimulus package worth 10 trillion yuan ($1.4 trillion U.S.) to tackle local government debt problems on Friday. However, some analysts doubt it is enough to meaningfully stimulate growth.
The country’s inflation rate declined to 0.3%, missing expectations of 0.4% and also lower than the 0.4% seen in September. Inflation fell for a second straight month and dropped to its lowest in four months, LSEG data showed.
On Monday, China kicks off its Singles’ Day — the equivalent of Black Friday in the country. A note from ING on Friday said that Singles’ Day will show how consumption was faring in China.
In other markets
In Taiwan, the Taiex sank 24.25 points, or 0.1%, to 23,529.64.
In Korea, the Kospi index dipped 29.49 points, or 1.2%, to 2,531.66.
In Singapore, the Straits Times Index gained 15.1 points, or 0.4%, at 3,739.47.
In New Zealand, the NZX 50 faded 84.01 points, or 0.7%, to 12,686.33.
In Australia, the ASX 200 slipped 28.91 points, or 0.4%, to 8,266.22.
