Most Asian stocks rose on Monday, while Chinese markets saw big fluctuations after the government announced unclear fiscal stimulus plans amid weak inflation data.
Trading volume was low due to a holiday in Japan.
Asian markets were encouraged by Wall Street gains, with the S&P 500 and Dow Jones hitting record highs after strong bank earnings.
China Stocks Volatile Amid Weak Inflation
Chinese stocks experienced significant swings, with the Shanghai Shenzhen CSI 300 and Shanghai Composite indexes briefly rising before settling about 0.2% higher.
The Chinese finance ministry plans to introduce fiscal stimulus but didn’t provide key details, leading to investor skepticism about the impact given high debt levels.
Economic data showed ongoing weakness in China, with consumer inflation down in September and producer inflation contracting for the 23rd month.
Hong Kong markets reflected mixed sentiment, with the Hang Seng dropping over 2% amid these fluctuations.
Chinese trade data expected later today may provide more insight into the economy.
Asian Stocks Track Wall Street Gains
Broader Asian markets rose, following the positive trend on Wall Street. Australia’s ASX 200 gained 0.4%, benefiting from potential Chinese stimulus.
Nikkei 225 Futures fell 0.4% due to the holiday in Japan.
South Korea’s KOSPI rose by 0.4%, while India’s Nifty 50 index futures indicated a lower opening as it struggles around 25,000 points.
Indian consumer inflation data is also due today, with an expected sharp rise for September.
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