Asian markets were mixed as Mainland China was nearly flat and Hong Kong was closed for its National Day holiday.
Asian markets were mixed as Mainland China was nearly flat and Hong Kong was closed for its National Day holiday. The STAR Board managed a small gain and volumes were weak as Northbound Stock Connect was closed due to the market holiday in Hong Kong. Inflation data was released in Mainland China overnight along with new loans, which were weaker than expected, potentially giving the People’s Bank of China (PBOC) a reason to increase liquidity and proceed with another reserve requirement ratio RRR cut to support the economy. The quiet trading in Mainland markets overnight suggests that investors are awaiting clarity on the central bank’s stance following the economic data release. China released both the consumer price index (CPI) and producer price index (PPI) last night before the Mainland market open.
